{smcl}
{com}{sf}{ul off}{txt}{.-}
      name:  {res}<unnamed>
       {txt}log:  {res}R:\WSV2\TBu_BMa\Subsidies Project\Results\Cluster_level.smcl
  {txt}log type:  {res}smcl
 {txt}opened on:  {res}11 Feb 2021, 10:50:30
{txt}
{com}. 
. 
. set more off
{txt}
{com}. 
. 
. 
. egen cd=group(country date)
{txt}
{com}. 
.  
. xtset id2
{txt}{col 8}panel variable:  {res}id2 (unbalanced)
{txt}
{com}. 
. *++++++++++++++++
. *+   AT, 2009  ++
. *++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
. 
. 
. preserve 
{txt}
{com}. 
. egen cmt=group(country month treataf)
{txt}(772376 missing values generated)

{com}. tabulate cmt, gen(b)

{txt}group(count {c |}
   ry month {c |}
   treataf) {c |}      Freq.     Percent        Cum.
{hline 12}{c +}{hline 35}
          1 {c |}{res}     21,316        1.22        1.22
{txt}          2 {c |}{res}     10,467        0.60        1.83
{txt}          3 {c |}{res}     20,562        1.18        3.01
{txt}          4 {c |}{res}      9,508        0.55        3.55
{txt}          5 {c |}{res}     20,562        1.18        4.73
{txt}          6 {c |}{res}      9,508        0.55        5.28
{txt}          7 {c |}{res}     20,562        1.18        6.46
{txt}          8 {c |}{res}      9,508        0.55        7.01
{txt}          9 {c |}{res}     20,562        1.18        8.19
{txt}         10 {c |}{res}      9,508        0.55        8.73
{txt}         11 {c |}{res}     20,562        1.18        9.92
{txt}         12 {c |}{res}      9,508        0.55       10.46
{txt}         13 {c |}{res}     20,562        1.18       11.64
{txt}         14 {c |}{res}      9,508        0.55       12.19
{txt}         15 {c |}{res}     20,562        1.18       13.37
{txt}         16 {c |}{res}      9,508        0.55       13.92
{txt}         17 {c |}{res}     20,562        1.18       15.10
{txt}         18 {c |}{res}      9,508        0.55       15.64
{txt}         19 {c |}{res}     20,562        1.18       16.82
{txt}         20 {c |}{res}      9,508        0.55       17.37
{txt}         21 {c |}{res}     20,562        1.18       18.55
{txt}         22 {c |}{res}      9,508        0.55       19.10
{txt}         23 {c |}{res}     20,562        1.18       20.28
{txt}         24 {c |}{res}      9,508        0.55       20.82
{txt}         25 {c |}{res}      8,752        0.50       21.33
{txt}         26 {c |}{res}      1,087        0.06       21.39
{txt}         27 {c |}{res}      8,502        0.49       21.88
{txt}         28 {c |}{res}        981        0.06       21.93
{txt}         29 {c |}{res}      8,502        0.49       22.42
{txt}         30 {c |}{res}        981        0.06       22.48
{txt}         31 {c |}{res}      8,502        0.49       22.97
{txt}         32 {c |}{res}        981        0.06       23.02
{txt}         33 {c |}{res}      8,502        0.49       23.51
{txt}         34 {c |}{res}        981        0.06       23.57
{txt}         35 {c |}{res}      8,502        0.49       24.06
{txt}         36 {c |}{res}        981        0.06       24.11
{txt}         37 {c |}{res}      8,502        0.49       24.60
{txt}         38 {c |}{res}        981        0.06       24.66
{txt}         39 {c |}{res}      8,502        0.49       25.15
{txt}         40 {c |}{res}        981        0.06       25.20
{txt}         41 {c |}{res}      8,502        0.49       25.69
{txt}         42 {c |}{res}        981        0.06       25.75
{txt}         43 {c |}{res}      8,502        0.49       26.24
{txt}         44 {c |}{res}        981        0.06       26.29
{txt}         45 {c |}{res}      8,502        0.49       26.78
{txt}         46 {c |}{res}        981        0.06       26.84
{txt}         47 {c |}{res}      8,502        0.49       27.32
{txt}         48 {c |}{res}        981        0.06       27.38
{txt}         49 {c |}{res}     17,831        1.02       28.41
{txt}         50 {c |}{res}      4,245        0.24       28.65
{txt}         51 {c |}{res}     17,321        0.99       29.64
{txt}         52 {c |}{res}      3,824        0.22       29.86
{txt}         53 {c |}{res}     17,321        0.99       30.86
{txt}         54 {c |}{res}      3,824        0.22       31.08
{txt}         55 {c |}{res}     17,321        0.99       32.07
{txt}         56 {c |}{res}      3,824        0.22       32.29
{txt}         57 {c |}{res}     17,321        0.99       33.29
{txt}         58 {c |}{res}      3,824        0.22       33.51
{txt}         59 {c |}{res}     17,321        0.99       34.50
{txt}         60 {c |}{res}      3,824        0.22       34.72
{txt}         61 {c |}{res}     17,321        0.99       35.72
{txt}         62 {c |}{res}      3,824        0.22       35.94
{txt}         63 {c |}{res}     17,321        0.99       36.93
{txt}         64 {c |}{res}      3,824        0.22       37.15
{txt}         65 {c |}{res}     17,321        0.99       38.15
{txt}         66 {c |}{res}      3,824        0.22       38.37
{txt}         67 {c |}{res}     17,321        0.99       39.36
{txt}         68 {c |}{res}      3,824        0.22       39.58
{txt}         69 {c |}{res}     17,321        0.99       40.58
{txt}         70 {c |}{res}      3,824        0.22       40.79
{txt}         71 {c |}{res}     17,321        0.99       41.79
{txt}         72 {c |}{res}      3,824        0.22       42.01
{txt}         73 {c |}{res}     23,663        1.36       43.37
{txt}         74 {c |}{res}     11,033        0.63       44.00
{txt}         75 {c |}{res}     22,895        1.32       45.32
{txt}         76 {c |}{res}      9,992        0.57       45.89
{txt}         77 {c |}{res}     22,895        1.32       47.21
{txt}         78 {c |}{res}      9,992        0.57       47.78
{txt}         79 {c |}{res}     22,895        1.32       49.10
{txt}         80 {c |}{res}      9,992        0.57       49.67
{txt}         81 {c |}{res}     22,895        1.32       50.98
{txt}         82 {c |}{res}      9,992        0.57       51.56
{txt}         83 {c |}{res}     22,895        1.32       52.87
{txt}         84 {c |}{res}      9,992        0.57       53.45
{txt}         85 {c |}{res}     22,895        1.32       54.76
{txt}         86 {c |}{res}      9,992        0.57       55.34
{txt}         87 {c |}{res}     22,895        1.32       56.65
{txt}         88 {c |}{res}      9,992        0.57       57.23
{txt}         89 {c |}{res}     22,895        1.32       58.54
{txt}         90 {c |}{res}      9,992        0.57       59.11
{txt}         91 {c |}{res}     22,895        1.32       60.43
{txt}         92 {c |}{res}      9,992        0.57       61.00
{txt}         93 {c |}{res}     22,895        1.32       62.32
{txt}         94 {c |}{res}      9,992        0.57       62.89
{txt}         95 {c |}{res}     22,895        1.32       64.21
{txt}         96 {c |}{res}      9,992        0.57       64.78
{txt}         97 {c |}{res}     14,595        0.84       65.62
{txt}         98 {c |}{res}      2,886        0.17       65.79
{txt}         99 {c |}{res}     14,170        0.81       66.60
{txt}        100 {c |}{res}      2,589        0.15       66.75
{txt}        101 {c |}{res}     14,170        0.81       67.56
{txt}        102 {c |}{res}      2,589        0.15       67.71
{txt}        103 {c |}{res}     14,170        0.81       68.52
{txt}        104 {c |}{res}      2,589        0.15       68.67
{txt}        105 {c |}{res}     14,170        0.81       69.49
{txt}        106 {c |}{res}      2,589        0.15       69.64
{txt}        107 {c |}{res}     14,170        0.81       70.45
{txt}        108 {c |}{res}      2,589        0.15       70.60
{txt}        109 {c |}{res}     14,170        0.81       71.41
{txt}        110 {c |}{res}      2,589        0.15       71.56
{txt}        111 {c |}{res}     14,170        0.81       72.37
{txt}        112 {c |}{res}      2,589        0.15       72.52
{txt}        113 {c |}{res}     14,170        0.81       73.34
{txt}        114 {c |}{res}      2,589        0.15       73.49
{txt}        115 {c |}{res}     14,170        0.81       74.30
{txt}        116 {c |}{res}      2,589        0.15       74.45
{txt}        117 {c |}{res}     14,170        0.81       75.26
{txt}        118 {c |}{res}      2,589        0.15       75.41
{txt}        119 {c |}{res}     14,170        0.81       76.23
{txt}        120 {c |}{res}      2,589        0.15       76.37
{txt}        121 {c |}{res}     14,399        0.83       77.20
{txt}        122 {c |}{res}      3,228        0.19       77.39
{txt}        123 {c |}{res}     13,940        0.80       78.19
{txt}        124 {c |}{res}      2,917        0.17       78.35
{txt}        125 {c |}{res}     13,940        0.80       79.16
{txt}        126 {c |}{res}      2,917        0.17       79.32
{txt}        127 {c |}{res}     13,940        0.80       80.12
{txt}        128 {c |}{res}      2,917        0.17       80.29
{txt}        129 {c |}{res}     13,940        0.80       81.09
{txt}        130 {c |}{res}      2,917        0.17       81.26
{txt}        131 {c |}{res}     13,940        0.80       82.06
{txt}        132 {c |}{res}      2,917        0.17       82.23
{txt}        133 {c |}{res}     13,940        0.80       83.03
{txt}        134 {c |}{res}      2,917        0.17       83.20
{txt}        135 {c |}{res}     13,940        0.80       84.00
{txt}        136 {c |}{res}      2,917        0.17       84.16
{txt}        137 {c |}{res}     13,940        0.80       84.96
{txt}        138 {c |}{res}      2,917        0.17       85.13
{txt}        139 {c |}{res}     13,940        0.80       85.93
{txt}        140 {c |}{res}      2,917        0.17       86.10
{txt}        141 {c |}{res}     13,940        0.80       86.90
{txt}        142 {c |}{res}      2,917        0.17       87.07
{txt}        143 {c |}{res}     13,940        0.80       87.87
{txt}        144 {c |}{res}      2,917        0.17       88.04
{txt}        145 {c |}{res}      5,023        0.29       88.33
{txt}        146 {c |}{res}        616        0.04       88.36
{txt}        147 {c |}{res}      4,843        0.28       88.64
{txt}        148 {c |}{res}        544        0.03       88.67
{txt}        149 {c |}{res}      4,843        0.28       88.95
{txt}        150 {c |}{res}        544        0.03       88.98
{txt}        151 {c |}{res}      4,843        0.28       89.26
{txt}        152 {c |}{res}        544        0.03       89.29
{txt}        153 {c |}{res}      4,843        0.28       89.57
{txt}        154 {c |}{res}        544        0.03       89.60
{txt}        155 {c |}{res}      4,843        0.28       89.88
{txt}        156 {c |}{res}        544        0.03       89.91
{txt}        157 {c |}{res}      4,843        0.28       90.19
{txt}        158 {c |}{res}        544        0.03       90.22
{txt}        159 {c |}{res}      4,843        0.28       90.50
{txt}        160 {c |}{res}        544        0.03       90.53
{txt}        161 {c |}{res}      4,843        0.28       90.81
{txt}        162 {c |}{res}        544        0.03       90.84
{txt}        163 {c |}{res}      4,843        0.28       91.11
{txt}        164 {c |}{res}        544        0.03       91.15
{txt}        165 {c |}{res}      4,843        0.28       91.42
{txt}        166 {c |}{res}        544        0.03       91.46
{txt}        167 {c |}{res}      4,843        0.28       91.73
{txt}        168 {c |}{res}        544        0.03       91.76
{txt}        169 {c |}{res}     10,589        0.61       92.37
{txt}        170 {c |}{res}      1,711        0.10       92.47
{txt}        171 {c |}{res}     10,347        0.59       93.07
{txt}        172 {c |}{res}      1,569        0.09       93.16
{txt}        173 {c |}{res}     10,347        0.59       93.75
{txt}        174 {c |}{res}      1,569        0.09       93.84
{txt}        175 {c |}{res}     10,347        0.59       94.43
{txt}        176 {c |}{res}      1,569        0.09       94.52
{txt}        177 {c |}{res}     10,347        0.59       95.12
{txt}        178 {c |}{res}      1,569        0.09       95.21
{txt}        179 {c |}{res}     10,347        0.59       95.80
{txt}        180 {c |}{res}      1,569        0.09       95.89
{txt}        181 {c |}{res}     10,347        0.59       96.49
{txt}        182 {c |}{res}      1,569        0.09       96.58
{txt}        183 {c |}{res}     10,347        0.59       97.17
{txt}        184 {c |}{res}      1,569        0.09       97.26
{txt}        185 {c |}{res}     10,347        0.59       97.86
{txt}        186 {c |}{res}      1,569        0.09       97.95
{txt}        187 {c |}{res}     10,347        0.59       98.54
{txt}        188 {c |}{res}      1,569        0.09       98.63
{txt}        189 {c |}{res}     10,347        0.59       99.23
{txt}        190 {c |}{res}      1,569        0.09       99.32
{txt}        191 {c |}{res}     10,347        0.59       99.91
{txt}        192 {c |}{res}      1,569        0.09      100.00
{txt}{hline 12}{c +}{hline 35}
      Total {c |}{res}  1,740,985      100.00
{txt}
{com}. 
. 
. 
. *Product
. reghdfe dlogunits i.presub3af9##ib1.treataf i.presub2af9##ib1.treataf i.presub1af9##ib1.treataf i.sub1af9##ib1.treataf i.sub2af9##ib1.treataf i.sub3af9##ib1.treataf i.sub4af9##ib1.treataf i.postsub1af9##ib1.treataf i.postsub2af9##ib1.treataf i.postsub3af9##ib1.treataf  mage mage2 , absorb(id2 cmt) cluster(id) 
{res}{txt}(dropped 212751 {browse "http://scorreia.com/research/singletons.pdf":singleton observations})
{res}{txt}note: {res}0bn.treataf{txt} is probably collinear with the fixed effects (all partialled-out values are close to zero; tol = 1.0e-09)
{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 13 iterations)
{res}{txt}note: 0.treataf omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}   537,385
{txt}Absorbing 2 HDFE groups{col 51}F({res}  22{txt},{res}  11691{txt}){col 67}= {res}     14.10
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.4453
{txt}{col 51}Adj R-squared{col 67}= {res}    0.0844
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0007
{txt}{col 1}Number of clusters ({res}id{txt}) {col 30}= {res}    11,692{txt}{col 51}Root MSE{col 67}= {res}    0.6954

{txt}{ralign 85:(Std. Err. adjusted for {res:11,692} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}          dlogunits{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}1.presub3af9 {c |}{col 21}{res}{space 2}-.2120361{col 33}{space 2} .0598771{col 44}{space 1}   -3.54{col 53}{space 3}0.000{col 61}{space 4}-.3294053{col 74}{space 3}-.0946669
{txt}{space 10}0.treataf {c |}{col 21}{res}{space 2}        0{col 33}{txt}  (omitted)
{space 19} {c |}
{space 1}presub3af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2} .2969441{col 33}{space 2} .0651447{col 44}{space 1}    4.56{col 53}{space 3}0.000{col 61}{space 4} .1692496{col 74}{space 3} .4246386
{txt}{space 19} {c |}
{space 7}1.presub2af9 {c |}{col 21}{res}{space 2}-.1047865{col 33}{space 2} .0862083{col 44}{space 1}   -1.22{col 53}{space 3}0.224{col 61}{space 4}-.2737692{col 74}{space 3} .0641963
{txt}{space 19} {c |}
{space 1}presub2af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2} .1439341{col 33}{space 2} .0946045{col 44}{space 1}    1.52{col 53}{space 3}0.128{col 61}{space 4}-.0415064{col 74}{space 3} .3293746
{txt}{space 19} {c |}
{space 7}1.presub1af9 {c |}{col 21}{res}{space 2}-.1210306{col 33}{space 2} .0424514{col 44}{space 1}   -2.85{col 53}{space 3}0.004{col 61}{space 4}-.2042425{col 74}{space 3}-.0378187
{txt}{space 19} {c |}
{space 1}presub1af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2} .0810059{col 33}{space 2} .0487567{col 44}{space 1}    1.66{col 53}{space 3}0.097{col 61}{space 4}-.0145654{col 74}{space 3} .1765772
{txt}{space 19} {c |}
{space 10}1.sub1af9 {c |}{col 21}{res}{space 2}  .823807{col 33}{space 2} .0879916{col 44}{space 1}    9.36{col 53}{space 3}0.000{col 61}{space 4} .6513287{col 74}{space 3} .9962853
{txt}{space 19} {c |}
{space 4}sub1af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2}-.7423372{col 33}{space 2} .0969331{col 44}{space 1}   -7.66{col 53}{space 3}0.000{col 61}{space 4}-.9323424{col 74}{space 3}-.5523321
{txt}{space 19} {c |}
{space 10}1.sub2af9 {c |}{col 21}{res}{space 2}-.1861171{col 33}{space 2} .0570125{col 44}{space 1}   -3.26{col 53}{space 3}0.001{col 61}{space 4}-.2978711{col 74}{space 3}-.0743631
{txt}{space 19} {c |}
{space 4}sub2af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2} .1523772{col 33}{space 2} .0640019{col 44}{space 1}    2.38{col 53}{space 3}0.017{col 61}{space 4} .0269227{col 74}{space 3} .2778317
{txt}{space 19} {c |}
{space 10}1.sub3af9 {c |}{col 21}{res}{space 2} .3381227{col 33}{space 2}  .089623{col 44}{space 1}    3.77{col 53}{space 3}0.000{col 61}{space 4} .1624466{col 74}{space 3} .5137988
{txt}{space 19} {c |}
{space 4}sub3af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2}-.2238787{col 33}{space 2} .1041754{col 44}{space 1}   -2.15{col 53}{space 3}0.032{col 61}{space 4}-.4280799{col 74}{space 3}-.0196775
{txt}{space 19} {c |}
{space 10}1.sub4af9 {c |}{col 21}{res}{space 2}-.0181743{col 33}{space 2}  .056899{col 44}{space 1}   -0.32{col 53}{space 3}0.749{col 61}{space 4}-.1297057{col 74}{space 3} .0933572
{txt}{space 19} {c |}
{space 4}sub4af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2}-.0208066{col 33}{space 2} .0651112{col 44}{space 1}   -0.32{col 53}{space 3}0.749{col 61}{space 4}-.1484353{col 74}{space 3} .1068222
{txt}{space 19} {c |}
{space 6}1.postsub1af9 {c |}{col 21}{res}{space 2}-.2719966{col 33}{space 2} .0755476{col 44}{space 1}   -3.60{col 53}{space 3}0.000{col 61}{space 4}-.4200825{col 74}{space 3}-.1239108
{txt}{space 19} {c |}
postsub1af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2} .2953368{col 33}{space 2} .0877115{col 44}{space 1}    3.37{col 53}{space 3}0.001{col 61}{space 4} .1234076{col 74}{space 3} .4672661
{txt}{space 19} {c |}
{space 6}1.postsub2af9 {c |}{col 21}{res}{space 2} .1763596{col 33}{space 2} .0760533{col 44}{space 1}    2.32{col 53}{space 3}0.020{col 61}{space 4} .0272826{col 74}{space 3} .3254367
{txt}{space 19} {c |}
postsub2af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2}-.1704225{col 33}{space 2} .0915489{col 44}{space 1}   -1.86{col 53}{space 3}0.063{col 61}{space 4}-.3498735{col 74}{space 3} .0090285
{txt}{space 19} {c |}
{space 6}1.postsub3af9 {c |}{col 21}{res}{space 2} -.191984{col 33}{space 2} .0856457{col 44}{space 1}   -2.24{col 53}{space 3}0.025{col 61}{space 4}-.3598638{col 74}{space 3}-.0241042
{txt}{space 19} {c |}
postsub3af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2} .2118426{col 33}{space 2} .0959339{col 44}{space 1}    2.21{col 53}{space 3}0.027{col 61}{space 4} .0237962{col 74}{space 3}  .399889
{txt}{space 19} {c |}
{space 15}mage {c |}{col 21}{res}{space 2}-.0029092{col 33}{space 2} .0003155{col 44}{space 1}   -9.22{col 53}{space 3}0.000{col 61}{space 4}-.0035276{col 74}{space 3}-.0022909
{txt}{space 14}mage2 {c |}{col 21}{res}{space 2} .0000213{col 33}{space 2} 3.47e-06{col 44}{space 1}    6.14{col 53}{space 3}0.000{col 61}{space 4} .0000145{col 74}{space 3} .0000281
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} .0422576{col 33}{space 2} .0053269{col 44}{space 1}    7.93{col 53}{space 3}0.000{col 61}{space 4} .0318159{col 74}{space 3} .0526993
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}         id2{col 14}{c |}{space 1}   211609{col 27}{space 1}   211609{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}         cmt{col 14}{c |}{space 1}      192{col 27}{space 1}        0{col 39}{result}{space 1}      192{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}.                 est store subu
{txt}
{com}. 
. *Country-date
. reghdfe dlogunits i.presub3af9##ib1.treataf i.presub2af9##ib1.treataf i.presub1af9##ib1.treataf i.sub1af9##ib1.treataf i.sub2af9##ib1.treataf i.sub3af9##ib1.treataf i.sub4af9##ib1.treataf i.postsub1af9##ib1.treataf i.postsub2af9##ib1.treataf i.postsub3af9##ib1.treataf  mage mage2 , absorb(id2 cmt) cluster(cd)  
{res}{txt}(dropped 212751 {browse "http://scorreia.com/research/singletons.pdf":singleton observations})
{res}{txt}note: {res}0bn.treataf{txt} is probably collinear with the fixed effects (all partialled-out values are close to zero; tol = 1.0e-09)
{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 13 iterations)
{res}{txt}note: 0.treataf omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}   537,385
{txt}Absorbing 2 HDFE groups{col 51}F({res}  22{txt},{res}   1199{txt}){col 67}= {res}     38.47
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.4453
{txt}{col 51}Adj R-squared{col 67}= {res}    0.0845
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0007
{txt}{col 1}Number of clusters ({res}cd{txt}) {col 30}= {res}     1,200{txt}{col 51}Root MSE{col 67}= {res}    0.6954

{txt}{ralign 85:(Std. Err. adjusted for {res:1,200} clusters in cd)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}          dlogunits{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}1.presub3af9 {c |}{col 21}{res}{space 2}-.2120361{col 33}{space 2} .0287452{col 44}{space 1}   -7.38{col 53}{space 3}0.000{col 61}{space 4}-.2684326{col 74}{space 3}-.1556396
{txt}{space 10}0.treataf {c |}{col 21}{res}{space 2}        0{col 33}{txt}  (omitted)
{space 19} {c |}
{space 1}presub3af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2} .2969441{col 33}{space 2} .0474415{col 44}{space 1}    6.26{col 53}{space 3}0.000{col 61}{space 4} .2038665{col 74}{space 3} .3900217
{txt}{space 19} {c |}
{space 7}1.presub2af9 {c |}{col 21}{res}{space 2}-.1047865{col 33}{space 2} .0319303{col 44}{space 1}   -3.28{col 53}{space 3}0.001{col 61}{space 4} -.167432{col 74}{space 3}-.0421409
{txt}{space 19} {c |}
{space 1}presub2af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2} .1439341{col 33}{space 2} .0460063{col 44}{space 1}    3.13{col 53}{space 3}0.002{col 61}{space 4} .0536724{col 74}{space 3} .2341959
{txt}{space 19} {c |}
{space 7}1.presub1af9 {c |}{col 21}{res}{space 2}-.1210306{col 33}{space 2} .0216782{col 44}{space 1}   -5.58{col 53}{space 3}0.000{col 61}{space 4}-.1635621{col 74}{space 3}-.0784991
{txt}{space 19} {c |}
{space 1}presub1af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2} .0810059{col 33}{space 2} .0331773{col 44}{space 1}    2.44{col 53}{space 3}0.015{col 61}{space 4} .0159138{col 74}{space 3} .1460979
{txt}{space 19} {c |}
{space 10}1.sub1af9 {c |}{col 21}{res}{space 2}  .823807{col 33}{space 2} .0442985{col 44}{space 1}   18.60{col 53}{space 3}0.000{col 61}{space 4} .7368958{col 74}{space 3} .9107182
{txt}{space 19} {c |}
{space 4}sub1af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2}-.7423372{col 33}{space 2} .0572732{col 44}{space 1}  -12.96{col 53}{space 3}0.000{col 61}{space 4} -.854704{col 74}{space 3}-.6299705
{txt}{space 19} {c |}
{space 10}1.sub2af9 {c |}{col 21}{res}{space 2}-.1861171{col 33}{space 2} .0316224{col 44}{space 1}   -5.89{col 53}{space 3}0.000{col 61}{space 4}-.2481585{col 74}{space 3}-.1240757
{txt}{space 19} {c |}
{space 4}sub2af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2} .1523772{col 33}{space 2} .0452684{col 44}{space 1}    3.37{col 53}{space 3}0.001{col 61}{space 4} .0635631{col 74}{space 3} .2411912
{txt}{space 19} {c |}
{space 10}1.sub3af9 {c |}{col 21}{res}{space 2} .3381227{col 33}{space 2} .0350254{col 44}{space 1}    9.65{col 53}{space 3}0.000{col 61}{space 4} .2694049{col 74}{space 3} .4068405
{txt}{space 19} {c |}
{space 4}sub3af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2}-.2238787{col 33}{space 2}  .075039{col 44}{space 1}   -2.98{col 53}{space 3}0.003{col 61}{space 4} -.371101{col 74}{space 3}-.0766564
{txt}{space 19} {c |}
{space 10}1.sub4af9 {c |}{col 21}{res}{space 2}-.0181743{col 33}{space 2}  .028278{col 44}{space 1}   -0.64{col 53}{space 3}0.521{col 61}{space 4}-.0736542{col 74}{space 3} .0373057
{txt}{space 19} {c |}
{space 4}sub4af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2}-.0208066{col 33}{space 2} .0295567{col 44}{space 1}   -0.70{col 53}{space 3}0.482{col 61}{space 4}-.0787952{col 74}{space 3} .0371821
{txt}{space 19} {c |}
{space 6}1.postsub1af9 {c |}{col 21}{res}{space 2}-.2719966{col 33}{space 2} .0305408{col 44}{space 1}   -8.91{col 53}{space 3}0.000{col 61}{space 4} -.331916{col 74}{space 3}-.2120773
{txt}{space 19} {c |}
postsub1af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2} .2953368{col 33}{space 2} .0412698{col 44}{space 1}    7.16{col 53}{space 3}0.000{col 61}{space 4} .2143679{col 74}{space 3} .3763058
{txt}{space 19} {c |}
{space 6}1.postsub2af9 {c |}{col 21}{res}{space 2} .1763596{col 33}{space 2} .0568665{col 44}{space 1}    3.10{col 53}{space 3}0.002{col 61}{space 4} .0647908{col 74}{space 3} .2879285
{txt}{space 19} {c |}
postsub2af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2}-.1704225{col 33}{space 2} .0698488{col 44}{space 1}   -2.44{col 53}{space 3}0.015{col 61}{space 4}-.3074621{col 74}{space 3}-.0333829
{txt}{space 19} {c |}
{space 6}1.postsub3af9 {c |}{col 21}{res}{space 2} -.191984{col 33}{space 2} .0650429{col 44}{space 1}   -2.95{col 53}{space 3}0.003{col 61}{space 4}-.3195945{col 74}{space 3}-.0643735
{txt}{space 19} {c |}
postsub3af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2} .2118426{col 33}{space 2} .0483698{col 44}{space 1}    4.38{col 53}{space 3}0.000{col 61}{space 4} .1169436{col 74}{space 3} .3067415
{txt}{space 19} {c |}
{space 15}mage {c |}{col 21}{res}{space 2}-.0029092{col 33}{space 2}   .00056{col 44}{space 1}   -5.19{col 53}{space 3}0.000{col 61}{space 4}-.0040079{col 74}{space 3}-.0018105
{txt}{space 14}mage2 {c |}{col 21}{res}{space 2} .0000213{col 33}{space 2} 6.01e-06{col 44}{space 1}    3.55{col 53}{space 3}0.000{col 61}{space 4} 9.53e-06{col 74}{space 3} .0000331
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} .0422576{col 33}{space 2} .0098724{col 44}{space 1}    4.28{col 53}{space 3}0.000{col 61}{space 4} .0228884{col 74}{space 3} .0616267
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}         id2{col 14}{c |}{space 1}   211609{col 27}{space 1}        0{col 39}{result}{space 1}   211609{col 53}{text} {col 54}{c |}
{res}{col 1}{text}         cmt{col 14}{c |}{space 1}      192{col 27}{space 1}       24{col 39}{result}{space 1}      168{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
{res}{txt}
{com}. est store subu1
{txt}
{com}. 
. *Country
. reghdfe dlogunits i.presub3af9##ib1.treataf i.presub2af9##ib1.treataf i.presub1af9##ib1.treataf i.sub1af9##ib1.treataf i.sub2af9##ib1.treataf i.sub3af9##ib1.treataf i.sub4af9##ib1.treataf i.postsub1af9##ib1.treataf i.postsub2af9##ib1.treataf i.postsub3af9##ib1.treataf  mage mage2 , absorb(id2 cmt) cluster(country)
{res}{txt}(dropped 212751 {browse "http://scorreia.com/research/singletons.pdf":singleton observations})
{res}{txt}note: {res}0bn.treataf{txt} is probably collinear with the fixed effects (all partialled-out values are close to zero; tol = 1.0e-09)
{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 13 iterations)
{res}{txt}warning: missing F statistic; dropped variables due to collinearity or too few clusters
{txt}note: 0.treataf omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}   537,385
{txt}Absorbing 2 HDFE groups{col 51}{help j_robustsingular##|_new:F(  22,      7)}{col 67}=          {res}.
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}=          {res}.
{txt}{col 51}R-squared{col 67}= {res}    0.4453
{txt}{col 51}Adj R-squared{col 67}= {res}    0.0844
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0007
{txt}{col 1}Number of clusters ({res}country{txt}) {col 30}= {res}         8{txt}{col 51}Root MSE{col 67}= {res}    0.6954

{txt}{ralign 85:(Std. Err. adjusted for {res:8} clusters in country)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}          dlogunits{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}1.presub3af9 {c |}{col 21}{res}{space 2}-.2120361{col 33}{space 2} .0188645{col 44}{space 1}  -11.24{col 53}{space 3}0.000{col 61}{space 4}-.2566435{col 74}{space 3}-.1674287
{txt}{space 10}0.treataf {c |}{col 21}{res}{space 2}        0{col 33}{txt}  (omitted)
{space 19} {c |}
{space 1}presub3af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2} .2969441{col 33}{space 2}  .035398{col 44}{space 1}    8.39{col 53}{space 3}0.000{col 61}{space 4} .2132412{col 74}{space 3}  .380647
{txt}{space 19} {c |}
{space 7}1.presub2af9 {c |}{col 21}{res}{space 2}-.1047865{col 33}{space 2} .0268783{col 44}{space 1}   -3.90{col 53}{space 3}0.006{col 61}{space 4}-.1683436{col 74}{space 3}-.0412293
{txt}{space 19} {c |}
{space 1}presub2af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2} .1439341{col 33}{space 2} .0365374{col 44}{space 1}    3.94{col 53}{space 3}0.006{col 61}{space 4} .0575368{col 74}{space 3} .2303314
{txt}{space 19} {c |}
{space 7}1.presub1af9 {c |}{col 21}{res}{space 2}-.1210306{col 33}{space 2} .0121892{col 44}{space 1}   -9.93{col 53}{space 3}0.000{col 61}{space 4}-.1498535{col 74}{space 3}-.0922077
{txt}{space 19} {c |}
{space 1}presub1af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2} .0810059{col 33}{space 2} .0275356{col 44}{space 1}    2.94{col 53}{space 3}0.022{col 61}{space 4} .0158945{col 74}{space 3} .1461172
{txt}{space 19} {c |}
{space 10}1.sub1af9 {c |}{col 21}{res}{space 2}  .823807{col 33}{space 2} .0312789{col 44}{space 1}   26.34{col 53}{space 3}0.000{col 61}{space 4} .7498442{col 74}{space 3} .8977699
{txt}{space 19} {c |}
{space 4}sub1af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2}-.7423372{col 33}{space 2} .0462202{col 44}{space 1}  -16.06{col 53}{space 3}0.000{col 61}{space 4}-.8516306{col 74}{space 3}-.6330439
{txt}{space 19} {c |}
{space 10}1.sub2af9 {c |}{col 21}{res}{space 2}-.1861171{col 33}{space 2} .0317096{col 44}{space 1}   -5.87{col 53}{space 3}0.001{col 61}{space 4}-.2610984{col 74}{space 3}-.1111358
{txt}{space 19} {c |}
{space 4}sub2af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2} .1523772{col 33}{space 2} .0431622{col 44}{space 1}    3.53{col 53}{space 3}0.010{col 61}{space 4} .0503149{col 74}{space 3} .2544395
{txt}{space 19} {c |}
{space 10}1.sub3af9 {c |}{col 21}{res}{space 2} .3381227{col 33}{space 2} .0322489{col 44}{space 1}   10.48{col 53}{space 3}0.000{col 61}{space 4} .2618662{col 74}{space 3} .4143793
{txt}{space 19} {c |}
{space 4}sub3af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2}-.2238787{col 33}{space 2} .0847617{col 44}{space 1}   -2.64{col 53}{space 3}0.033{col 61}{space 4}-.4243084{col 74}{space 3} -.023449
{txt}{space 19} {c |}
{space 10}1.sub4af9 {c |}{col 21}{res}{space 2}-.0181743{col 33}{space 2} .0190011{col 44}{space 1}   -0.96{col 53}{space 3}0.371{col 61}{space 4}-.0631048{col 74}{space 3} .0267563
{txt}{space 19} {c |}
{space 4}sub4af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2}-.0208066{col 33}{space 2}  .017921{col 44}{space 1}   -1.16{col 53}{space 3}0.284{col 61}{space 4} -.063183{col 74}{space 3} .0215699
{txt}{space 19} {c |}
{space 6}1.postsub1af9 {c |}{col 21}{res}{space 2}-.2719966{col 33}{space 2} .0221532{col 44}{space 1}  -12.28{col 53}{space 3}0.000{col 61}{space 4}-.3243806{col 74}{space 3}-.2196126
{txt}{space 19} {c |}
postsub1af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2} .2953368{col 33}{space 2} .0301515{col 44}{space 1}    9.80{col 53}{space 3}0.000{col 61}{space 4} .2240399{col 74}{space 3} .3666338
{txt}{space 19} {c |}
{space 6}1.postsub2af9 {c |}{col 21}{res}{space 2} .1763596{col 33}{space 2} .0565267{col 44}{space 1}    3.12{col 53}{space 3}0.017{col 61}{space 4} .0426953{col 74}{space 3}  .310024
{txt}{space 19} {c |}
postsub2af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2}-.1704225{col 33}{space 2} .0813445{col 44}{space 1}   -2.10{col 53}{space 3}0.074{col 61}{space 4}-.3627716{col 74}{space 3} .0219266
{txt}{space 19} {c |}
{space 6}1.postsub3af9 {c |}{col 21}{res}{space 2} -.191984{col 33}{space 2} .0594888{col 44}{space 1}   -3.23{col 53}{space 3}0.015{col 61}{space 4}-.3326526{col 74}{space 3}-.0513154
{txt}{space 19} {c |}
postsub3af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2} .2118426{col 33}{space 2} .0337777{col 44}{space 1}    6.27{col 53}{space 3}0.000{col 61}{space 4} .1319709{col 74}{space 3} .2917142
{txt}{space 19} {c |}
{space 15}mage {c |}{col 21}{res}{space 2}-.0029092{col 33}{space 2} .0007551{col 44}{space 1}   -3.85{col 53}{space 3}0.006{col 61}{space 4}-.0046947{col 74}{space 3}-.0011238
{txt}{space 14}mage2 {c |}{col 21}{res}{space 2} .0000213{col 33}{space 2} 6.93e-06{col 44}{space 1}    3.08{col 53}{space 3}0.018{col 61}{space 4} 4.93e-06{col 74}{space 3} .0000377
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} .0422576{col 33}{space 2} .0134577{col 44}{space 1}    3.14{col 53}{space 3}0.016{col 61}{space 4} .0104353{col 74}{space 3} .0740799
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}         id2{col 14}{c |}{space 1}   211609{col 27}{space 1}        0{col 39}{result}{space 1}   211609{col 53}{text} {col 54}{c |}
{res}{col 1}{text}         cmt{col 14}{c |}{space 1}      192{col 27}{space 1}      192{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}. est store subu2
{txt}
{com}.  
. *Country id
. reghdfe dlogunits i.presub3af9##ib1.treataf i.presub2af9##ib1.treataf i.presub1af9##ib1.treataf i.sub1af9##ib1.treataf i.sub2af9##ib1.treataf i.sub3af9##ib1.treataf i.sub4af9##ib1.treataf i.postsub1af9##ib1.treataf i.postsub2af9##ib1.treataf i.postsub3af9##ib1.treataf  mage mage2 , absorb(id2 cmt) cluster(country id) 
{res}{txt}(dropped 212751 {browse "http://scorreia.com/research/singletons.pdf":singleton observations})
{res}{txt}note: {res}0bn.treataf{txt} is probably collinear with the fixed effects (all partialled-out values are close to zero; tol = 1.0e-09)
{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 13 iterations)
{res}{txt}Warning: VCV matrix was non-positive semi-definite; adjustment from Cameron, Gelbach & Miller applied.
{txt}note: 0.treataf omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}   537,385
{txt}Absorbing 2 HDFE groups{col 51}F({res}  22{txt},{res}      7{txt}){col 67}= {res}     16.52
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0004
{txt}{col 51}R-squared{col 67}= {res}    0.4453
{txt}{col 51}Adj R-squared{col 67}= {res}    0.0844
{txt}{col 1}Number of clusters ({res}country{txt}) {col 30}= {res}         8{txt}{col 51}Within R-sq.{col 67}= {res}    0.0007
{txt}{col 1}Number of clusters ({res}id{txt}) {col 30}= {res}    11,692{txt}{col 51}Root MSE{col 67}= {res}    0.6954

{txt}{ralign 85:(Std. Err. adjusted for {res:8} clusters in country id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}          dlogunits{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}1.presub3af9 {c |}{col 21}{res}{space 2}-.2120361{col 33}{space 2} .0451603{col 44}{space 1}   -4.70{col 53}{space 3}0.002{col 61}{space 4}-.3188232{col 74}{space 3} -.105249
{txt}{space 10}0.treataf {c |}{col 21}{res}{space 2}        0{col 33}{space 2} 3.79e-17{col 44}{space 1}    0.00{col 53}{space 3}1.000{col 61}{space 4}-8.97e-17{col 74}{space 3} 8.97e-17
{txt}{space 19} {c |}
{space 1}presub3af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2} .2969441{col 33}{space 2} .0536334{col 44}{space 1}    5.54{col 53}{space 3}0.001{col 61}{space 4} .1701213{col 74}{space 3} .4237668
{txt}{space 19} {c |}
{space 7}1.presub2af9 {c |}{col 21}{res}{space 2}-.1047865{col 33}{space 2} .0668796{col 44}{space 1}   -1.57{col 53}{space 3}0.161{col 61}{space 4}-.2629315{col 74}{space 3} .0533586
{txt}{space 19} {c |}
{space 1}presub2af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2} .1439341{col 33}{space 2} .0745132{col 44}{space 1}    1.93{col 53}{space 3}0.095{col 61}{space 4}-.0322616{col 74}{space 3} .3201299
{txt}{space 19} {c |}
{space 7}1.presub1af9 {c |}{col 21}{res}{space 2}-.1210306{col 33}{space 2} .0302661{col 44}{space 1}   -4.00{col 53}{space 3}0.005{col 61}{space 4}-.1925985{col 74}{space 3}-.0494627
{txt}{space 19} {c |}
{space 1}presub1af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2} .0810059{col 33}{space 2} .0391617{col 44}{space 1}    2.07{col 53}{space 3}0.077{col 61}{space 4}-.0115969{col 74}{space 3} .1736087
{txt}{space 19} {c |}
{space 10}1.sub1af9 {c |}{col 21}{res}{space 2}  .823807{col 33}{space 2} .0695271{col 44}{space 1}   11.85{col 53}{space 3}0.000{col 61}{space 4} .6594016{col 74}{space 3} .9882125
{txt}{space 19} {c |}
{space 4}sub1af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2}-.7423372{col 33}{space 2} .0794608{col 44}{space 1}   -9.34{col 53}{space 3}0.000{col 61}{space 4}-.9302321{col 74}{space 3}-.5544424
{txt}{space 19} {c |}
{space 10}1.sub2af9 {c |}{col 21}{res}{space 2}-.1861171{col 33}{space 2} .0476003{col 44}{space 1}   -3.91{col 53}{space 3}0.006{col 61}{space 4}-.2986739{col 74}{space 3}-.0735602
{txt}{space 19} {c |}
{space 4}sub2af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2} .1523772{col 33}{space 2}  .056402{col 44}{space 1}    2.70{col 53}{space 3}0.031{col 61}{space 4} .0190076{col 74}{space 3} .2857468
{txt}{space 19} {c |}
{space 10}1.sub3af9 {c |}{col 21}{res}{space 2} .3381227{col 33}{space 2} .0700702{col 44}{space 1}    4.83{col 53}{space 3}0.002{col 61}{space 4} .1724331{col 74}{space 3} .5038124
{txt}{space 19} {c |}
{space 4}sub3af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2}-.2238787{col 33}{space 2} .1003911{col 44}{space 1}   -2.23{col 53}{space 3}0.061{col 61}{space 4}-.4612659{col 74}{space 3} .0135084
{txt}{space 19} {c |}
{space 10}1.sub4af9 {c |}{col 21}{res}{space 2}-.0181743{col 33}{space 2} .0434151{col 44}{space 1}   -0.42{col 53}{space 3}0.688{col 61}{space 4}-.1208346{col 74}{space 3} .0844861
{txt}{space 19} {c |}
{space 4}sub4af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2}-.0208066{col 33}{space 2}  .048124{col 44}{space 1}   -0.43{col 53}{space 3}0.678{col 61}{space 4}-.1346017{col 74}{space 3} .0929886
{txt}{space 19} {c |}
{space 6}1.postsub1af9 {c |}{col 21}{res}{space 2}-.2719966{col 33}{space 2} .0559654{col 44}{space 1}   -4.86{col 53}{space 3}0.002{col 61}{space 4}-.4043338{col 74}{space 3}-.1396595
{txt}{space 19} {c |}
postsub1af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2} .2953368{col 33}{space 2} .0655807{col 44}{space 1}    4.50{col 53}{space 3}0.003{col 61}{space 4}  .140263{col 74}{space 3} .4504106
{txt}{space 19} {c |}
{space 6}1.postsub2af9 {c |}{col 21}{res}{space 2} .1763596{col 33}{space 2} .0697771{col 44}{space 1}    2.53{col 53}{space 3}0.039{col 61}{space 4} .0113631{col 74}{space 3} .3413562
{txt}{space 19} {c |}
postsub2af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2}-.1704225{col 33}{space 2} .0905197{col 44}{space 1}   -1.88{col 53}{space 3}0.102{col 61}{space 4}-.3844676{col 74}{space 3} .0436226
{txt}{space 19} {c |}
{space 6}1.postsub3af9 {c |}{col 21}{res}{space 2} -.191984{col 33}{space 2} .0775307{col 44}{space 1}   -2.48{col 53}{space 3}0.042{col 61}{space 4}-.3753151{col 74}{space 3}-.0086529
{txt}{space 19} {c |}
postsub3af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2} .2118426{col 33}{space 2} .0737496{col 44}{space 1}    2.87{col 53}{space 3}0.024{col 61}{space 4} .0374525{col 74}{space 3} .3862326
{txt}{space 19} {c |}
{space 15}mage {c |}{col 21}{res}{space 2}-.0029092{col 33}{space 2} .0006225{col 44}{space 1}   -4.67{col 53}{space 3}0.002{col 61}{space 4}-.0043812{col 74}{space 3}-.0014372
{txt}{space 14}mage2 {c |}{col 21}{res}{space 2} .0000213{col 33}{space 2} 5.89e-06{col 44}{space 1}    3.62{col 53}{space 3}0.009{col 61}{space 4} 7.38e-06{col 74}{space 3} .0000352
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} .0422576{col 33}{space 2} .0109672{col 44}{space 1}    3.85{col 53}{space 3}0.006{col 61}{space 4} .0163243{col 74}{space 3} .0681908
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}         id2{col 14}{c |}{space 1}   211609{col 27}{space 1}   211609{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}         cmt{col 14}{c |}{space 1}      192{col 27}{space 1}      192{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}. est store subu3
{txt}
{com}. 
. esttab   subu subu2 subu1 subu3   , se star(* 0.10 ** 0.05 *** 0.01) mtitles nogaps scalars(N ) order(1.presub2af9 1.presub1af9 1.sub1af9 1.sub2af9 1.sub3af9 1.sub4af9 1.postsub1af9 1.postsub2af9) keep(1.presub2af9 1.presub1af9 1.sub1af9 1.sub2af9 1.sub3af9 1.sub4af9 1.postsub1af9 1.postsub2af9) 
{res}
{txt}{hline 76}
{txt}                      (1)             (2)             (3)             (4)   
{txt}                     subu           subu2           subu1           subu3   
{txt}{hline 76}
{txt}1.presub2af9{res}       -0.105          -0.105***       -0.105***       -0.105   {txt}
            {res} {ralign 12:{txt:(}0.0862{txt:)}}    {ralign 12:{txt:(}0.0269{txt:)}}    {ralign 12:{txt:(}0.0319{txt:)}}    {ralign 12:{txt:(}0.0669{txt:)}}   {txt}
{txt}1.presub1af9{res}       -0.121***       -0.121***       -0.121***       -0.121***{txt}
            {res} {ralign 12:{txt:(}0.0425{txt:)}}    {ralign 12:{txt:(}0.0122{txt:)}}    {ralign 12:{txt:(}0.0217{txt:)}}    {ralign 12:{txt:(}0.0303{txt:)}}   {txt}
{txt}1.sub1af9   {res}        0.824***        0.824***        0.824***        0.824***{txt}
            {res} {ralign 12:{txt:(}0.0880{txt:)}}    {ralign 12:{txt:(}0.0313{txt:)}}    {ralign 12:{txt:(}0.0443{txt:)}}    {ralign 12:{txt:(}0.0695{txt:)}}   {txt}
{txt}1.sub2af9   {res}       -0.186***       -0.186***       -0.186***       -0.186***{txt}
            {res} {ralign 12:{txt:(}0.0570{txt:)}}    {ralign 12:{txt:(}0.0317{txt:)}}    {ralign 12:{txt:(}0.0316{txt:)}}    {ralign 12:{txt:(}0.0476{txt:)}}   {txt}
{txt}1.sub3af9   {res}        0.338***        0.338***        0.338***        0.338***{txt}
            {res} {ralign 12:{txt:(}0.0896{txt:)}}    {ralign 12:{txt:(}0.0322{txt:)}}    {ralign 12:{txt:(}0.0350{txt:)}}    {ralign 12:{txt:(}0.0701{txt:)}}   {txt}
{txt}1.sub4af9   {res}      -0.0182         -0.0182         -0.0182         -0.0182   {txt}
            {res} {ralign 12:{txt:(}0.0569{txt:)}}    {ralign 12:{txt:(}0.0190{txt:)}}    {ralign 12:{txt:(}0.0283{txt:)}}    {ralign 12:{txt:(}0.0434{txt:)}}   {txt}
{txt}1.postsub1~9{res}       -0.272***       -0.272***       -0.272***       -0.272***{txt}
            {res} {ralign 12:{txt:(}0.0755{txt:)}}    {ralign 12:{txt:(}0.0222{txt:)}}    {ralign 12:{txt:(}0.0305{txt:)}}    {ralign 12:{txt:(}0.0560{txt:)}}   {txt}
{txt}1.postsub2~9{res}        0.176**         0.176**         0.176***        0.176** {txt}
            {res} {ralign 12:{txt:(}0.0761{txt:)}}    {ralign 12:{txt:(}0.0565{txt:)}}    {ralign 12:{txt:(}0.0569{txt:)}}    {ralign 12:{txt:(}0.0698{txt:)}}   {txt}
{txt}{hline 76}
{txt}N           {res}       537385          537385          537385          537385   {txt}
{txt}{hline 76}
{txt}Standard errors in parentheses
{txt}* p<0.10, ** p<0.05, *** p<0.01

{com}. 
. ****WILD BOOTSTRAP
. 
. 
. xtset id2
{txt}{col 8}panel variable:  {res}id2 (unbalanced)
{txt}
{com}. xtreg dlogunits i.presub3af9##ib1.treataf i.presub2af9##ib1.treataf i.presub1af9##ib1.treataf i.sub1af9##ib1.treataf i.sub2af9##ib1.treataf i.sub3af9##ib1.treataf i.sub4af9##ib1.treataf i.postsub1af9##ib1.treataf i.postsub2af9##ib1.treataf i.postsub3af9##ib1.treataf  mage mage2 b1-b192 , fe
{p 0 6 2}{txt}note: 0.treataf omitted because of collinearity{p_end}
{p 0 6 2}note: b169 omitted because of collinearity{p_end}
{p 0 6 2}note: b170 omitted because of collinearity{p_end}
{p 0 6 2}note: b171 omitted because of collinearity{p_end}
{p 0 6 2}note: b172 omitted because of collinearity{p_end}
{p 0 6 2}note: b173 omitted because of collinearity{p_end}
{p 0 6 2}note: b174 omitted because of collinearity{p_end}
{p 0 6 2}note: b175 omitted because of collinearity{p_end}
{p 0 6 2}note: b176 omitted because of collinearity{p_end}
{p 0 6 2}note: b177 omitted because of collinearity{p_end}
{p 0 6 2}note: b178 omitted because of collinearity{p_end}
{p 0 6 2}note: b179 omitted because of collinearity{p_end}
{p 0 6 2}note: b180 omitted because of collinearity{p_end}
{p 0 6 2}note: b181 omitted because of collinearity{p_end}
{p 0 6 2}note: b182 omitted because of collinearity{p_end}
{p 0 6 2}note: b183 omitted because of collinearity{p_end}
{p 0 6 2}note: b184 omitted because of collinearity{p_end}
{p 0 6 2}note: b185 omitted because of collinearity{p_end}
{p 0 6 2}note: b186 omitted because of collinearity{p_end}
{p 0 6 2}note: b187 omitted because of collinearity{p_end}
{p 0 6 2}note: b188 omitted because of collinearity{p_end}
{p 0 6 2}note: b189 omitted because of collinearity{p_end}
{p 0 6 2}note: b190 omitted because of collinearity{p_end}
{p 0 6 2}note: b191 omitted because of collinearity{p_end}
{p 0 6 2}note: b192 omitted because of collinearity{p_end}
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}   750,136
{txt}Group variable: {res}id2{txt}{col 49}Number of groups{col 67}={col 69}{res}   424,360

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.0111{col 63}{txt}min{col 67}={col 69}{res}         1
{txt}     between = {res}0.0121{col 63}{txt}avg{col 67}={col 69}{res}       1.8
{txt}     overall = {res}0.0121{col 63}{txt}max{col 67}={col 69}{res}         8

{txt}{col 49}F({res}190{txt},{res}325586{txt}){col 67}={col 70}{res}    19.28
{txt}corr(u_i, Xb){col 16}= {res}-0.0610{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}          dlogunits{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}1.presub3af9 {c |}{col 21}{res}{space 2}-.2120361{col 33}{space 2} .0825669{col 44}{space 1}   -2.57{col 53}{space 3}0.010{col 61}{space 4}-.3738649{col 74}{space 3}-.0502073
{txt}{space 10}0.treataf {c |}{col 21}{res}{space 2}        0{col 33}{txt}  (omitted)
{space 19} {c |}
{space 1}presub3af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2} .2969441{col 33}{space 2} .0900213{col 44}{space 1}    3.30{col 53}{space 3}0.001{col 61}{space 4}  .120505{col 74}{space 3} .4733832
{txt}{space 19} {c |}
{space 7}1.presub2af9 {c |}{col 21}{res}{space 2}-.1047865{col 33}{space 2} .0870727{col 44}{space 1}   -1.20{col 53}{space 3}0.229{col 61}{space 4}-.2754465{col 74}{space 3} .0658736
{txt}{space 19} {c |}
{space 1}presub2af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2} .1439341{col 33}{space 2} .0951996{col 44}{space 1}    1.51{col 53}{space 3}0.131{col 61}{space 4}-.0426543{col 74}{space 3} .3305226
{txt}{space 19} {c |}
{space 7}1.presub1af9 {c |}{col 21}{res}{space 2}-.1210306{col 33}{space 2} .0769151{col 44}{space 1}   -1.57{col 53}{space 3}0.116{col 61}{space 4}-.2717819{col 74}{space 3} .0297207
{txt}{space 19} {c |}
{space 1}presub1af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2} .0810059{col 33}{space 2} .0839819{col 44}{space 1}    0.96{col 53}{space 3}0.335{col 61}{space 4}-.0835962{col 74}{space 3} .2456079
{txt}{space 19} {c |}
{space 10}1.sub1af9 {c |}{col 21}{res}{space 2}  .823807{col 33}{space 2} .0811634{col 44}{space 1}   10.15{col 53}{space 3}0.000{col 61}{space 4} .6647291{col 74}{space 3} .9828849
{txt}{space 19} {c |}
{space 4}sub1af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2}-.7423372{col 33}{space 2} .0896513{col 44}{space 1}   -8.28{col 53}{space 3}0.000{col 61}{space 4}-.9180513{col 74}{space 3}-.5666232
{txt}{space 19} {c |}
{space 10}1.sub2af9 {c |}{col 21}{res}{space 2}-.1861171{col 33}{space 2} .0659963{col 44}{space 1}   -2.82{col 53}{space 3}0.005{col 61}{space 4}-.3154679{col 74}{space 3}-.0567663
{txt}{space 19} {c |}
{space 4}sub2af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2} .1523772{col 33}{space 2}  .074913{col 44}{space 1}    2.03{col 53}{space 3}0.042{col 61}{space 4} .0055499{col 74}{space 3} .2992044
{txt}{space 19} {c |}
{space 10}1.sub3af9 {c |}{col 21}{res}{space 2} .3381227{col 33}{space 2} .0714178{col 44}{space 1}    4.73{col 53}{space 3}0.000{col 61}{space 4}  .198146{col 74}{space 3} .4780995
{txt}{space 19} {c |}
{space 4}sub3af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2}-.2238787{col 33}{space 2} .0816974{col 44}{space 1}   -2.74{col 53}{space 3}0.006{col 61}{space 4}-.3840033{col 74}{space 3}-.0637542
{txt}{space 19} {c |}
{space 10}1.sub4af9 {c |}{col 21}{res}{space 2}-.0181743{col 33}{space 2}  .067754{col 44}{space 1}   -0.27{col 53}{space 3}0.789{col 61}{space 4}-.1509701{col 74}{space 3} .1146215
{txt}{space 19} {c |}
{space 4}sub4af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2}-.0208066{col 33}{space 2} .0776966{col 44}{space 1}   -0.27{col 53}{space 3}0.789{col 61}{space 4}-.1730896{col 74}{space 3} .1314765
{txt}{space 19} {c |}
{space 6}1.postsub1af9 {c |}{col 21}{res}{space 2}-.2719966{col 33}{space 2} .0750216{col 44}{space 1}   -3.63{col 53}{space 3}0.000{col 61}{space 4}-.4190368{col 74}{space 3}-.1249565
{txt}{space 19} {c |}
postsub1af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2} .2953368{col 33}{space 2} .0859112{col 44}{space 1}    3.44{col 53}{space 3}0.001{col 61}{space 4} .1269533{col 74}{space 3} .4637203
{txt}{space 19} {c |}
{space 6}1.postsub2af9 {c |}{col 21}{res}{space 2} .1763596{col 33}{space 2} .0791284{col 44}{space 1}    2.23{col 53}{space 3}0.026{col 61}{space 4} .0212703{col 74}{space 3}  .331449
{txt}{space 19} {c |}
postsub2af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2}-.1704225{col 33}{space 2} .0901657{col 44}{space 1}   -1.89{col 53}{space 3}0.059{col 61}{space 4}-.3471446{col 74}{space 3} .0062996
{txt}{space 19} {c |}
{space 6}1.postsub3af9 {c |}{col 21}{res}{space 2} -.191984{col 33}{space 2} .0745705{col 44}{space 1}   -2.57{col 53}{space 3}0.010{col 61}{space 4}  -.33814{col 74}{space 3} -.045828
{txt}{space 19} {c |}
postsub3af9#treataf {c |}
{space 15}1 0  {c |}{col 21}{res}{space 2} .2118426{col 33}{space 2} .0857445{col 44}{space 1}    2.47{col 53}{space 3}0.013{col 61}{space 4} .0437858{col 74}{space 3} .3798993
{txt}{space 19} {c |}
{space 15}mage {c |}{col 21}{res}{space 2}-.0029092{col 33}{space 2} .0004649{col 44}{space 1}   -6.26{col 53}{space 3}0.000{col 61}{space 4}-.0038205{col 74}{space 3} -.001998
{txt}{space 14}mage2 {c |}{col 21}{res}{space 2} .0000213{col 33}{space 2} 5.18e-06{col 44}{space 1}    4.11{col 53}{space 3}0.000{col 61}{space 4} .0000112{col 74}{space 3} .0000315
{txt}{space 17}b1 {c |}{col 21}{res}{space 2} .2677288{col 33}{space 2} .0219117{col 44}{space 1}   12.22{col 53}{space 3}0.000{col 61}{space 4} .2247826{col 74}{space 3}  .310675
{txt}{space 17}b2 {c |}{col 21}{res}{space 2} .2106291{col 33}{space 2} .0524075{col 44}{space 1}    4.02{col 53}{space 3}0.000{col 61}{space 4}  .107912{col 74}{space 3} .3133463
{txt}{space 17}b3 {c |}{col 21}{res}{space 2}-.0570676{col 33}{space 2} .0228284{col 44}{space 1}   -2.50{col 53}{space 3}0.012{col 61}{space 4}-.1018106{col 74}{space 3}-.0123246
{txt}{space 17}b4 {c |}{col 21}{res}{space 2}  .026033{col 33}{space 2} .0593942{col 44}{space 1}    0.44{col 53}{space 3}0.661{col 61}{space 4}-.0903779{col 74}{space 3} .1424439
{txt}{space 17}b5 {c |}{col 21}{res}{space 2} .0023292{col 33}{space 2} .0227406{col 44}{space 1}    0.10{col 53}{space 3}0.918{col 61}{space 4}-.0422417{col 74}{space 3} .0469001
{txt}{space 17}b6 {c |}{col 21}{res}{space 2} .0231493{col 33}{space 2} .0585672{col 44}{space 1}    0.40{col 53}{space 3}0.693{col 61}{space 4}-.0916408{col 74}{space 3} .1379393
{txt}{space 17}b7 {c |}{col 21}{res}{space 2}-.0596807{col 33}{space 2} .0219374{col 44}{space 1}   -2.72{col 53}{space 3}0.007{col 61}{space 4}-.1026773{col 74}{space 3}-.0166841
{txt}{space 17}b8 {c |}{col 21}{res}{space 2} -.037269{col 33}{space 2}  .057824{col 44}{space 1}   -0.64{col 53}{space 3}0.519{col 61}{space 4}-.1506024{col 74}{space 3} .0760644
{txt}{space 17}b9 {c |}{col 21}{res}{space 2}  .097594{col 33}{space 2} .0217536{col 44}{space 1}    4.49{col 53}{space 3}0.000{col 61}{space 4} .0549575{col 74}{space 3} .1402304
{txt}{space 16}b10 {c |}{col 21}{res}{space 2} .1697132{col 33}{space 2} .0567879{col 44}{space 1}    2.99{col 53}{space 3}0.003{col 61}{space 4} .0584105{col 74}{space 3} .2810159
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{txt}{space 15}b112 {c |}{col 21}{res}{space 2}-.2344363{col 33}{space 2} .0545279{col 44}{space 1}   -4.30{col 53}{space 3}0.000{col 61}{space 4}-.3413094{col 74}{space 3}-.1275632
{txt}{space 15}b113 {c |}{col 21}{res}{space 2}-.1047898{col 33}{space 2} .0192293{col 44}{space 1}   -5.45{col 53}{space 3}0.000{col 61}{space 4}-.1424787{col 74}{space 3}-.0671008
{txt}{space 15}b114 {c |}{col 21}{res}{space 2}-.0636455{col 33}{space 2} .0549166{col 44}{space 1}   -1.16{col 53}{space 3}0.246{col 61}{space 4}-.1712805{col 74}{space 3} .0439896
{txt}{space 15}b115 {c |}{col 21}{res}{space 2} .1360197{col 33}{space 2} .0196791{col 44}{space 1}    6.91{col 53}{space 3}0.000{col 61}{space 4} .0974493{col 74}{space 3} .1745901
{txt}{space 15}b116 {c |}{col 21}{res}{space 2} .2808698{col 33}{space 2} .0543565{col 44}{space 1}    5.17{col 53}{space 3}0.000{col 61}{space 4} .1743325{col 74}{space 3} .3874071
{txt}{space 15}b117 {c |}{col 21}{res}{space 2} .0558429{col 33}{space 2} .0201107{col 44}{space 1}    2.78{col 53}{space 3}0.005{col 61}{space 4} .0164266{col 74}{space 3} .0952592
{txt}{space 15}b118 {c |}{col 21}{res}{space 2}-.0164788{col 33}{space 2} .0553165{col 44}{space 1}   -0.30{col 53}{space 3}0.766{col 61}{space 4}-.1248976{col 74}{space 3} .0919399
{txt}{space 15}b119 {c |}{col 21}{res}{space 2}-.0320272{col 33}{space 2} .0201742{col 44}{space 1}   -1.59{col 53}{space 3}0.112{col 61}{space 4}-.0715681{col 74}{space 3} .0075137
{txt}{space 15}b120 {c |}{col 21}{res}{space 2}-.0853023{col 33}{space 2} .0556005{col 44}{space 1}   -1.53{col 53}{space 3}0.125{col 61}{space 4}-.1942778{col 74}{space 3} .0236731
{txt}{space 15}b121 {c |}{col 21}{res}{space 2}-.1444814{col 33}{space 2} .0202227{col 44}{space 1}   -7.14{col 53}{space 3}0.000{col 61}{space 4}-.1841174{col 74}{space 3}-.1048454
{txt}{space 15}b122 {c |}{col 21}{res}{space 2} .0390559{col 33}{space 2} .0554695{col 44}{space 1}    0.70{col 53}{space 3}0.481{col 61}{space 4}-.0696628{col 74}{space 3} .1477745
{txt}{space 15}b123 {c |}{col 21}{res}{space 2}-.0090118{col 33}{space 2} .0214558{col 44}{space 1}   -0.42{col 53}{space 3}0.674{col 61}{space 4}-.0510645{col 74}{space 3} .0330409
{txt}{space 15}b124 {c |}{col 21}{res}{space 2}-.0032912{col 33}{space 2} .0632189{col 44}{space 1}   -0.05{col 53}{space 3}0.958{col 61}{space 4}-.1271985{col 74}{space 3} .1206161
{txt}{space 15}b125 {c |}{col 21}{res}{space 2} .0846349{col 33}{space 2} .0212408{col 44}{space 1}    3.98{col 53}{space 3}0.000{col 61}{space 4} .0430036{col 74}{space 3} .1262663
{txt}{space 15}b126 {c |}{col 21}{res}{space 2} .0242702{col 33}{space 2} .0625637{col 44}{space 1}    0.39{col 53}{space 3}0.698{col 61}{space 4}-.0983529{col 74}{space 3} .1468932
{txt}{space 15}b127 {c |}{col 21}{res}{space 2}-.0855122{col 33}{space 2}  .020943{col 44}{space 1}   -4.08{col 53}{space 3}0.000{col 61}{space 4}-.1265599{col 74}{space 3}-.0444646
{txt}{space 15}b128 {c |}{col 21}{res}{space 2}-.0716739{col 33}{space 2} .0617216{col 44}{space 1}   -1.16{col 53}{space 3}0.246{col 61}{space 4}-.1926465{col 74}{space 3} .0492987
{txt}{space 15}b129 {c |}{col 21}{res}{space 2} .0760065{col 33}{space 2}  .020652{col 44}{space 1}    3.68{col 53}{space 3}0.000{col 61}{space 4} .0355291{col 74}{space 3} .1164838
{txt}{space 15}b130 {c |}{col 21}{res}{space 2} .1989618{col 33}{space 2}  .060711{col 44}{space 1}    3.28{col 53}{space 3}0.001{col 61}{space 4} .0799699{col 74}{space 3} .3179536
{txt}{space 15}b131 {c |}{col 21}{res}{space 2}-.0350331{col 33}{space 2} .0196454{col 44}{space 1}   -1.78{col 53}{space 3}0.075{col 61}{space 4}-.0735376{col 74}{space 3} .0034713
{txt}{space 15}b132 {c |}{col 21}{res}{space 2}-.0508945{col 33}{space 2}  .056302{col 44}{space 1}   -0.90{col 53}{space 3}0.366{col 61}{space 4}-.1612449{col 74}{space 3} .0594559
{txt}{space 15}b133 {c |}{col 21}{res}{space 2} .1450787{col 33}{space 2} .0188083{col 44}{space 1}    7.71{col 53}{space 3}0.000{col 61}{space 4}  .108215{col 74}{space 3} .1819424
{txt}{space 15}b134 {c |}{col 21}{res}{space 2} .0649958{col 33}{space 2} .0534565{col 44}{space 1}    1.22{col 53}{space 3}0.224{col 61}{space 4}-.0397774{col 74}{space 3} .1697689
{txt}{space 15}b135 {c |}{col 21}{res}{space 2}-.1095381{col 33}{space 2}  .018515{col 44}{space 1}   -5.92{col 53}{space 3}0.000{col 61}{space 4} -.145827{col 74}{space 3}-.0732492
{txt}{space 15}b136 {c |}{col 21}{res}{space 2}-.0681469{col 33}{space 2} .0520921{col 44}{space 1}   -1.31{col 53}{space 3}0.191{col 61}{space 4}-.1702459{col 74}{space 3} .0339521
{txt}{space 15}b137 {c |}{col 21}{res}{space 2}-.0051656{col 33}{space 2} .0188301{col 44}{space 1}   -0.27{col 53}{space 3}0.784{col 61}{space 4}-.0420721{col 74}{space 3} .0317409
{txt}{space 15}b138 {c |}{col 21}{res}{space 2}-.0906885{col 33}{space 2} .0519188{col 44}{space 1}   -1.75{col 53}{space 3}0.081{col 61}{space 4}-.1924478{col 74}{space 3} .0110709
{txt}{space 15}b139 {c |}{col 21}{res}{space 2} .1370085{col 33}{space 2} .0191836{col 44}{space 1}    7.14{col 53}{space 3}0.000{col 61}{space 4} .0994092{col 74}{space 3} .1746078
{txt}{space 15}b140 {c |}{col 21}{res}{space 2} .1457269{col 33}{space 2} .0516811{col 44}{space 1}    2.82{col 53}{space 3}0.005{col 61}{space 4} .0444335{col 74}{space 3} .2470203
{txt}{space 15}b141 {c |}{col 21}{res}{space 2} .0328659{col 33}{space 2}  .019576{col 44}{space 1}    1.68{col 53}{space 3}0.093{col 61}{space 4}-.0055025{col 74}{space 3} .0712343
{txt}{space 15}b142 {c |}{col 21}{res}{space 2}  .040996{col 33}{space 2} .0524067{col 44}{space 1}    0.78{col 53}{space 3}0.434{col 61}{space 4}-.0617197{col 74}{space 3} .1437116
{txt}{space 15}b143 {c |}{col 21}{res}{space 2} .0411435{col 33}{space 2} .0196424{col 44}{space 1}    2.09{col 53}{space 3}0.036{col 61}{space 4} .0026449{col 74}{space 3} .0796421
{txt}{space 15}b144 {c |}{col 21}{res}{space 2}-.0055216{col 33}{space 2} .0528936{col 44}{space 1}   -0.10{col 53}{space 3}0.917{col 61}{space 4}-.1091915{col 74}{space 3} .0981482
{txt}{space 15}b145 {c |}{col 21}{res}{space 2} .0277524{col 33}{space 2} .0288882{col 44}{space 1}    0.96{col 53}{space 3}0.337{col 61}{space 4}-.0288677{col 74}{space 3} .0843724
{txt}{space 15}b146 {c |}{col 21}{res}{space 2} .0697557{col 33}{space 2} .0852203{col 44}{space 1}    0.82{col 53}{space 3}0.413{col 61}{space 4}-.0972737{col 74}{space 3} .2367851
{txt}{space 15}b147 {c |}{col 21}{res}{space 2} .0283836{col 33}{space 2} .0295922{col 44}{space 1}    0.96{col 53}{space 3}0.337{col 61}{space 4}-.0296162{col 74}{space 3} .0863835
{txt}{space 15}b148 {c |}{col 21}{res}{space 2} .1567731{col 33}{space 2} .1015968{col 44}{space 1}    1.54{col 53}{space 3}0.123{col 61}{space 4}-.0423537{col 74}{space 3} .3558998
{txt}{space 15}b149 {c |}{col 21}{res}{space 2} .0401499{col 33}{space 2} .0294634{col 44}{space 1}    1.36{col 53}{space 3}0.173{col 61}{space 4}-.0175976{col 74}{space 3} .0978973
{txt}{space 15}b150 {c |}{col 21}{res}{space 2}-.0031641{col 33}{space 2}  .102958{col 44}{space 1}   -0.03{col 53}{space 3}0.975{col 61}{space 4}-.2049587{col 74}{space 3} .1986306
{txt}{space 15}b151 {c |}{col 21}{res}{space 2}  -.01813{col 33}{space 2} .0284118{col 44}{space 1}   -0.64{col 53}{space 3}0.523{col 61}{space 4}-.0738163{col 74}{space 3} .0375563
{txt}{space 15}b152 {c |}{col 21}{res}{space 2}-.0157536{col 33}{space 2} .1034197{col 44}{space 1}   -0.15{col 53}{space 3}0.879{col 61}{space 4}-.2184533{col 74}{space 3} .1869461
{txt}{space 15}b153 {c |}{col 21}{res}{space 2} -.007275{col 33}{space 2} .0284712{col 44}{space 1}   -0.26{col 53}{space 3}0.798{col 61}{space 4}-.0630777{col 74}{space 3} .0485278
{txt}{space 15}b154 {c |}{col 21}{res}{space 2}  .135415{col 33}{space 2} .0990407{col 44}{space 1}    1.37{col 53}{space 3}0.172{col 61}{space 4} -.058702{col 74}{space 3}  .329532
{txt}{space 15}b155 {c |}{col 21}{res}{space 2}-.0329804{col 33}{space 2} .0269106{col 44}{space 1}   -1.23{col 53}{space 3}0.220{col 61}{space 4}-.0857244{col 74}{space 3} .0197635
{txt}{space 15}b156 {c |}{col 21}{res}{space 2} .0010635{col 33}{space 2} .0992868{col 44}{space 1}    0.01{col 53}{space 3}0.991{col 61}{space 4}-.1935357{col 74}{space 3} .1956627
{txt}{space 15}b157 {c |}{col 21}{res}{space 2}-.1050854{col 33}{space 2}  .026432{col 44}{space 1}   -3.98{col 53}{space 3}0.000{col 61}{space 4}-.1568914{col 74}{space 3}-.0532794
{txt}{space 15}b158 {c |}{col 21}{res}{space 2}-.1371555{col 33}{space 2} .0847386{col 44}{space 1}   -1.62{col 53}{space 3}0.106{col 61}{space 4}-.3032408{col 74}{space 3} .0289298
{txt}{space 15}b159 {c |}{col 21}{res}{space 2} .1135105{col 33}{space 2} .0259175{col 44}{space 1}    4.38{col 53}{space 3}0.000{col 61}{space 4} .0627129{col 74}{space 3}  .164308
{txt}{space 15}b160 {c |}{col 21}{res}{space 2} .0926824{col 33}{space 2} .0805659{col 44}{space 1}    1.15{col 53}{space 3}0.250{col 61}{space 4}-.0652245{col 74}{space 3} .2505893
{txt}{space 15}b161 {c |}{col 21}{res}{space 2} .0784194{col 33}{space 2} .0266793{col 44}{space 1}    2.94{col 53}{space 3}0.003{col 61}{space 4} .0261288{col 74}{space 3}   .13071
{txt}{space 15}b162 {c |}{col 21}{res}{space 2}-.1073033{col 33}{space 2} .0788816{col 44}{space 1}   -1.36{col 53}{space 3}0.174{col 61}{space 4} -.261909{col 74}{space 3} .0473024
{txt}{space 15}b163 {c |}{col 21}{res}{space 2} .0944609{col 33}{space 2}  .026937{col 44}{space 1}    3.51{col 53}{space 3}0.000{col 61}{space 4} .0416651{col 74}{space 3} .1472567
{txt}{space 15}b164 {c |}{col 21}{res}{space 2} .2154789{col 33}{space 2} .0815987{col 44}{space 1}    2.64{col 53}{space 3}0.008{col 61}{space 4} .0555478{col 74}{space 3} .3754099
{txt}{space 15}b165 {c |}{col 21}{res}{space 2} .0859287{col 33}{space 2} .0278628{col 44}{space 1}    3.08{col 53}{space 3}0.002{col 61}{space 4} .0313183{col 74}{space 3} .1405391
{txt}{space 15}b166 {c |}{col 21}{res}{space 2} .0035841{col 33}{space 2} .0826294{col 44}{space 1}    0.04{col 53}{space 3}0.965{col 61}{space 4}-.1583671{col 74}{space 3} .1655354
{txt}{space 15}b167 {c |}{col 21}{res}{space 2}-.0539264{col 33}{space 2} .0277514{col 44}{space 1}   -1.94{col 53}{space 3}0.052{col 61}{space 4}-.1083184{col 74}{space 3} .0004655
{txt}{space 15}b168 {c |}{col 21}{res}{space 2}-.0127582{col 33}{space 2} .0823503{col 44}{space 1}   -0.15{col 53}{space 3}0.877{col 61}{space 4}-.1741624{col 74}{space 3} .1486461
{txt}{space 15}b169 {c |}{col 21}{res}{space 2}        0{col 33}{txt}  (omitted)
{space 15}b170 {c |}{col 21}{res}{space 2}        0{col 33}{txt}  (omitted)
{space 15}b171 {c |}{col 21}{res}{space 2}        0{col 33}{txt}  (omitted)
{space 15}b172 {c |}{col 21}{res}{space 2}        0{col 33}{txt}  (omitted)
{space 15}b173 {c |}{col 21}{res}{space 2}        0{col 33}{txt}  (omitted)
{space 15}b174 {c |}{col 21}{res}{space 2}        0{col 33}{txt}  (omitted)
{space 15}b175 {c |}{col 21}{res}{space 2}        0{col 33}{txt}  (omitted)
{space 15}b176 {c |}{col 21}{res}{space 2}        0{col 33}{txt}  (omitted)
{space 15}b177 {c |}{col 21}{res}{space 2}        0{col 33}{txt}  (omitted)
{space 15}b178 {c |}{col 21}{res}{space 2}        0{col 33}{txt}  (omitted)
{space 15}b179 {c |}{col 21}{res}{space 2}        0{col 33}{txt}  (omitted)
{space 15}b180 {c |}{col 21}{res}{space 2}        0{col 33}{txt}  (omitted)
{space 15}b181 {c |}{col 21}{res}{space 2}        0{col 33}{txt}  (omitted)
{space 15}b182 {c |}{col 21}{res}{space 2}        0{col 33}{txt}  (omitted)
{space 15}b183 {c |}{col 21}{res}{space 2}        0{col 33}{txt}  (omitted)
{space 15}b184 {c |}{col 21}{res}{space 2}        0{col 33}{txt}  (omitted)
{space 15}b185 {c |}{col 21}{res}{space 2}        0{col 33}{txt}  (omitted)
{space 15}b186 {c |}{col 21}{res}{space 2}        0{col 33}{txt}  (omitted)
{space 15}b187 {c |}{col 21}{res}{space 2}        0{col 33}{txt}  (omitted)
{space 15}b188 {c |}{col 21}{res}{space 2}        0{col 33}{txt}  (omitted)
{space 15}b189 {c |}{col 21}{res}{space 2}        0{col 33}{txt}  (omitted)
{space 15}b190 {c |}{col 21}{res}{space 2}        0{col 33}{txt}  (omitted)
{space 15}b191 {c |}{col 21}{res}{space 2}        0{col 33}{txt}  (omitted)
{space 15}b192 {c |}{col 21}{res}{space 2}        0{col 33}{txt}  (omitted)
{space 14}_cons {c |}{col 21}{res}{space 2} .0387845{col 33}{space 2} .0091484{col 44}{space 1}    4.24{col 53}{space 3}0.000{col 61}{space 4}  .020854{col 74}{space 3}  .056715
{txt}{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
            sigma_u {c |} {res}  .6983691
            {txt}sigma_e {c |} {res} .69541602
                {txt}rho {c |} {res} .50211874{txt}   (fraction of variance due to u_i)
{hline 20}{c BT}{hline 64}
F test that all u_i=0: F({res}424359{txt}, {res}325586{txt}) = {res}1.31{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}. 
. set seed 220981211
{txt}
{com}. 
. 
. *Wild bootstrap, country cluster, restricted
.                 boottest        {c -(}1.presub2af9{c )-} {c -(}1.presub1af9{c )-} {c -(}1.sub1af9{c )-} {c -(}1.sub2af9{c )-} {c -(}1.sub3af9{c )-} {c -(}1.sub4af9{c )-} {c -(}1.postsub1af9{c )-} {c -(}1.postsub2af9{c )-} , cluster(country) nograph  reps (999999) weight (webb)   
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(country)
{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.presub2af9

{txt}{col 41}t(7) = {res}   -3.2989
{col 37}{txt}Prob>|t| = {res}    0.4359

95%{txt} confidence set for null hypothesis expression: [{res}-1.357{txt}, {res}1.519{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.presub1af9

{txt}{col 41}t(7) = {res}   -8.4020
{col 37}{txt}Prob>|t| = {res}    0.1623

95%{txt} confidence set for null hypothesis expression: [{res}-.5961{txt}, {res}.3903{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.sub1af9

{txt}{col 41}t(7) = {res}   22.2861
{col 37}{txt}Prob>|t| = {res}    0.1074

95%{txt} confidence set for null hypothesis expression: [{res}-.3926{txt}, {res}1.673{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.sub2af9

{txt}{col 41}t(7) = {res}   -4.9666
{col 37}{txt}Prob>|t| = {res}    0.3071

95%{txt} confidence set for null hypothesis expression: [{res}-1.557{txt}, {res}1.078{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.sub3af9

{txt}{col 41}t(7) = {res}    8.8720
{col 37}{txt}Prob>|t| = {res}    0.1071

95%{txt} confidence set for null hypothesis expression: [{res}-.578{txt}, {res}1.526{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.sub4af9

{txt}{col 41}t(7) = {res}   -0.8094
{col 37}{txt}Prob>|t| = {res}    0.3924

95%{txt} confidence set for null hypothesis expression: [{res}-.5996{txt}, {res}.6225{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.postsub1af9

{txt}{col 41}t(7) = {res}  -10.3893
{col 37}{txt}Prob>|t| = {res}    0.2056

95%{txt} confidence set for null hypothesis expression: [{res}-1.008{txt}, {res}.2876{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.postsub2af9

{txt}{col 41}t(7) = {res}    2.6400
{col 37}{txt}Prob>|t| = {res}    0.4934

95%{txt} confidence set for null hypothesis expression: [{res}-2.092{txt}, {res}1.749{txt}]
{res}{txt}
{com}. *Wild bootstrap, country cluster, unrestricted
.                 boottest        {c -(}1.presub2af9{c )-} {c -(}1.presub1af9{c )-} {c -(}1.sub1af9{c )-} {c -(}1.sub2af9{c )-} {c -(}1.sub3af9{c )-} {c -(}1.sub4af9{c )-} {c -(}1.postsub1af9{c )-} {c -(}1.postsub2af9{c )-} , cluster(country) nograph  reps (999999) weight (webb)   nonull
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(country)
{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.presub2af9

{txt}{col 41}t(7) = {res}   -3.2989
{col 37}{txt}Prob>|t| = {res}    0.0060

95%{txt} confidence set for null hypothesis expression: [{res}-.1799{txt}, {res}-.02963{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.presub1af9

{txt}{col 41}t(7) = {res}   -8.4020
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}-.1333{txt}, {res}-.1088{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.sub1af9

{txt}{col 41}t(7) = {res}   22.2861
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}.7731{txt}, {res}.8746{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.sub2af9

{txt}{col 41}t(7) = {res}   -4.9666
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}-.2591{txt}, {res}-.1131{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.sub3af9

{txt}{col 41}t(7) = {res}    8.8720
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}.3013{txt}, {res}.3749{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.sub4af9

{txt}{col 41}t(7) = {res}   -0.8094
{col 37}{txt}Prob>|t| = {res}    0.1777

95%{txt} confidence set for null hypothesis expression: [{res}-.04656{txt}, {res}.01021{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.postsub1af9

{txt}{col 41}t(7) = {res}  -10.3893
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}-.3081{txt}, {res}-.2359{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.postsub2af9

{txt}{col 41}t(7) = {res}    2.6400
{col 37}{txt}Prob>|t| = {res}    0.0351

95%{txt} confidence set for null hypothesis expression: [{res}.01178{txt}, {res}.3409{txt}]
{res}{txt}
{com}. *Wild bootstrap, country-date cluster, restricted
.                 boottest        {c -(}1.presub2af9{c )-} {c -(}1.presub1af9{c )-} {c -(}1.sub1af9{c )-} {c -(}1.sub2af9{c )-} {c -(}1.sub3af9{c )-} {c -(}1.sub4af9{c )-} {c -(}1.postsub1af9{c )-} {c -(}1.postsub2af9{c )-} , cluster(cd)      nograph  noci
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(cd)

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.presub2af9

{txt}{col 38}t(1199) = {res}   -2.7776
{col 37}{txt}Prob>|t| = {res}    0.3594

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.presub1af9

{txt}{col 38}t(1199) = {res}   -4.7255
{col 37}{txt}Prob>|t| = {res}    0.3483

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.sub1af9

{txt}{col 38}t(1199) = {res}   15.7402
{col 37}{txt}Prob>|t| = {res}    0.1972

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.sub2af9

{txt}{col 38}t(1199) = {res}   -4.9815
{col 37}{txt}Prob>|t| = {res}    0.2563

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.sub3af9

{txt}{col 38}t(1199) = {res}    8.1708
{col 37}{txt}Prob>|t| = {res}    0.1371

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.sub4af9

{txt}{col 38}t(1199) = {res}   -0.5440
{col 37}{txt}Prob>|t| = {res}    0.5706

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.postsub1af9

{txt}{col 38}t(1199) = {res}   -7.5380
{col 37}{txt}Prob>|t| = {res}    0.2633

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.postsub2af9

{txt}{col 38}t(1199) = {res}    2.6249
{col 37}{txt}Prob>|t| = {res}    0.4555
{txt}
{com}. *Wild bootstrap, country-date cluster, unrestricted
.                 boottest        {c -(}1.presub2af9{c )-} {c -(}1.presub1af9{c )-} {c -(}1.sub1af9{c )-} {c -(}1.sub2af9{c )-} {c -(}1.sub3af9{c )-} {c -(}1.sub4af9{c )-} {c -(}1.postsub1af9{c )-} {c -(}1.postsub2af9{c )-} , cluster(cd)      nograph                                                                nonull          
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(cd)
{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.presub2af9

{txt}{col 38}t(1199) = {res}   -2.7776
{col 37}{txt}Prob>|t| = {res}    0.0060

95%{txt} confidence set for null hypothesis expression: [{res}-.1836{txt}, {res}-.02602{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.presub1af9

{txt}{col 38}t(1199) = {res}   -4.7255
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}-.1605{txt}, {res}-.0816{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.sub1af9

{txt}{col 38}t(1199) = {res}   15.7402
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}.7374{txt}, {res}.9102{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.sub2af9

{txt}{col 38}t(1199) = {res}   -4.9815
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}-.2483{txt}, {res}-.124{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.sub3af9

{txt}{col 38}t(1199) = {res}    8.1708
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}.2892{txt}, {res}.3871{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.sub4af9

{txt}{col 38}t(1199) = {res}   -0.5440
{col 37}{txt}Prob>|t| = {res}    0.5175

95%{txt} confidence set for null hypothesis expression: [{res}-.0688{txt}, {res}.0324{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.postsub1af9

{txt}{col 38}t(1199) = {res}   -7.5380
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}-.3331{txt}, {res}-.2109{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.postsub2af9

{txt}{col 38}t(1199) = {res}    2.6249
{col 37}{txt}Prob>|t| = {res}    0.0060

95%{txt} confidence set for null hypothesis expression: [{res}.03189{txt}, {res}.321{txt}]
{res}{txt}
{com}. *Subcluster bootstrap by product, restricted
.                 boottest        {c -(}1.presub2af9{c )-} {c -(}1.presub1af9{c )-} {c -(}1.sub1af9{c )-} {c -(}1.sub2af9{c )-} {c -(}1.sub3af9{c )-} {c -(}1.sub4af9{c )-} {c -(}1.postsub1af9{c )-} {c -(}1.postsub2af9{c )-} , cluster(id)      nograph  
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(id)
{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.presub2af9

{txt}{col 37}t(15688) = {res}   -0.8010
{col 37}{txt}Prob>|t| = {res}    0.2432

95%{txt} confidence set for null hypothesis expression: [{res}-.2855{txt}, {res}.07406{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.presub1af9

{txt}{col 37}t(15688) = {res}   -1.8787
{col 37}{txt}Prob>|t| = {res}    0.0060

95%{txt} confidence set for null hypothesis expression: [{res}-.2101{txt}, {res}-.0348{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.sub1af9

{txt}{col 37}t(15688) = {res}    6.1693
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}.6539{txt}, {res}.9975{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.sub2af9

{txt}{col 37}t(15688) = {res}   -2.1511
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}-.2969{txt}, {res}-.07183{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.sub3af9

{txt}{col 37}t(15688) = {res}    2.4860
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}.1615{txt}, {res}.5139{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.sub4af9

{txt}{col 37}t(15688) = {res}   -0.2105
{col 37}{txt}Prob>|t| = {res}    0.7648

95%{txt} confidence set for null hypothesis expression: [{res}-.1263{txt}, {res}.09138{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.postsub1af9

{txt}{col 37}t(15688) = {res}   -2.3724
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}-.4241{txt}, {res}-.1195{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.postsub2af9

{txt}{col 37}t(15688) = {res}    1.5280
{col 37}{txt}Prob>|t| = {res}    0.0130

95%{txt} confidence set for null hypothesis expression: [{res}.03042{txt}, {res}.3225{txt}]
{res}{txt}
{com}. *Subcluster bootstrap by product, unrestricted
.                 boottest        {c -(}1.presub2af9{c )-} {c -(}1.presub1af9{c )-} {c -(}1.sub1af9{c )-} {c -(}1.sub2af9{c )-} {c -(}1.sub3af9{c )-} {c -(}1.sub4af9{c )-} {c -(}1.postsub1af9{c )-} {c -(}1.postsub2af9{c )-} , cluster(id)      nograph                                                                nonull
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(id)
{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.presub2af9

{txt}{col 37}t(15688) = {res}   -0.8010
{col 37}{txt}Prob>|t| = {res}    0.2192

95%{txt} confidence set for null hypothesis expression: [{res}-.277{txt}, {res}.06728{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.presub1af9

{txt}{col 37}t(15688) = {res}   -1.8787
{col 37}{txt}Prob>|t| = {res}    0.0050

95%{txt} confidence set for null hypothesis expression: [{res}-.2111{txt}, {res}-.03081{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.sub1af9

{txt}{col 37}t(15688) = {res}    6.1693
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}.6413{txt}, {res}1.006{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.sub2af9

{txt}{col 37}t(15688) = {res}   -2.1511
{col 37}{txt}Prob>|t| = {res}    0.0020

95%{txt} confidence set for null hypothesis expression: [{res}-.2992{txt}, {res}-.07305{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.sub3af9

{txt}{col 37}t(15688) = {res}    2.4860
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}.1596{txt}, {res}.5166{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.sub4af9

{txt}{col 37}t(15688) = {res}   -0.2105
{col 37}{txt}Prob>|t| = {res}    0.7638

95%{txt} confidence set for null hypothesis expression: [{res}-.1297{txt}, {res}.09307{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.postsub1af9

{txt}{col 37}t(15688) = {res}   -2.3724
{col 37}{txt}Prob>|t| = {res}    0.0010

95%{txt} confidence set for null hypothesis expression: [{res}-.418{txt}, {res}-.126{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.postsub2af9

{txt}{col 37}t(15688) = {res}    1.5280
{col 37}{txt}Prob>|t| = {res}    0.0190

95%{txt} confidence set for null hypothesis expression: [{res}.02237{txt}, {res}.3304{txt}]
{res}{txt}
{com}. *Subcluster bootstrap by product-country, restricted
.                 boottest        {c -(}1.presub2af9{c )-} {c -(}1.presub1af9{c )-} {c -(}1.sub1af9{c )-} {c -(}1.sub2af9{c )-} {c -(}1.sub3af9{c )-} {c -(}1.sub4af9{c )-} {c -(}1.postsub1af9{c )-} {c -(}1.postsub2af9{c )-} , cluster(id1)     nograph  noci
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(id1)

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.presub2af9

{txt}{col 37}t(37894) = {res}   -1.1057
{col 37}{txt}Prob>|t| = {res}    0.2282

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.presub1af9

{txt}{col 37}t(37894) = {res}   -2.4279
{col 37}{txt}Prob>|t| = {res}    0.0040

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.sub1af9

{txt}{col 37}t(37894) = {res}    8.5513
{col 37}{txt}Prob>|t| = {res}    0.0000

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.sub2af9

{txt}{col 37}t(37894) = {res}   -2.8903
{col 37}{txt}Prob>|t| = {res}    0.0000

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.sub3af9

{txt}{col 37}t(37894) = {res}    3.4033
{col 37}{txt}Prob>|t| = {res}    0.0000

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.sub4af9

{txt}{col 37}t(37894) = {res}   -0.2839
{col 37}{txt}Prob>|t| = {res}    0.7397

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.postsub1af9

{txt}{col 37}t(37894) = {res}   -3.1557
{col 37}{txt}Prob>|t| = {res}    0.0000

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.postsub2af9

{txt}{col 37}t(37894) = {res}    2.0488
{col 37}{txt}Prob>|t| = {res}    0.0140
{txt}
{com}. *Subcluster bootstrap by product-country, unrestricted
.                 boottest        {c -(}1.presub2af9{c )-} {c -(}1.presub1af9{c )-} {c -(}1.sub1af9{c )-} {c -(}1.sub2af9{c )-} {c -(}1.sub3af9{c )-} {c -(}1.sub4af9{c )-} {c -(}1.postsub1af9{c )-} {c -(}1.postsub2af9{c )-} , cluster(id1)     nograph                                                                nonull
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(id1)
{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.presub2af9

{txt}{col 37}t(37894) = {res}   -1.1057
{col 37}{txt}Prob>|t| = {res}    0.2412

95%{txt} confidence set for null hypothesis expression: [{res}-.2808{txt}, {res}.07129{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.presub1af9

{txt}{col 37}t(37894) = {res}   -2.4279
{col 37}{txt}Prob>|t| = {res}    0.0020

95%{txt} confidence set for null hypothesis expression: [{res}-.203{txt}, {res}-.03887{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.sub1af9

{txt}{col 37}t(37894) = {res}    8.5513
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}.6546{txt}, {res}.993{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.sub2af9

{txt}{col 37}t(37894) = {res}   -2.8903
{col 37}{txt}Prob>|t| = {res}    0.0010

95%{txt} confidence set for null hypothesis expression: [{res}-.2969{txt}, {res}-.0754{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.sub3af9

{txt}{col 37}t(37894) = {res}    3.4033
{col 37}{txt}Prob>|t| = {res}    0.0010

95%{txt} confidence set for null hypothesis expression: [{res}.1616{txt}, {res}.5147{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.sub4af9

{txt}{col 37}t(37894) = {res}   -0.2839
{col 37}{txt}Prob>|t| = {res}    0.7327

95%{txt} confidence set for null hypothesis expression: [{res}-.1282{txt}, {res}.09174{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.postsub1af9

{txt}{col 37}t(37894) = {res}   -3.1557
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}-.4276{txt}, {res}-.1164{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.postsub2af9

{txt}{col 37}t(37894) = {res}    2.0488
{col 37}{txt}Prob>|t| = {res}    0.0220

95%{txt} confidence set for null hypothesis expression: [{res}.02643{txt}, {res}.3263{txt}]
{res}{txt}
{com}.                 
.                 
. restore         
{txt}
{com}. 
. *+++++++++++++++++++
. *+  AT, 2010, FF  ++
. *++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
. preserve 
{txt}
{com}. 
. egen cmt=group(country month treataf)
{txt}(772376 missing values generated)

{com}. tabulate cmt, gen(b)

{txt}group(count {c |}
   ry month {c |}
   treataf) {c |}      Freq.     Percent        Cum.
{hline 12}{c +}{hline 35}
          1 {c |}{res}     21,316        1.22        1.22
{txt}          2 {c |}{res}     10,467        0.60        1.83
{txt}          3 {c |}{res}     20,562        1.18        3.01
{txt}          4 {c |}{res}      9,508        0.55        3.55
{txt}          5 {c |}{res}     20,562        1.18        4.73
{txt}          6 {c |}{res}      9,508        0.55        5.28
{txt}          7 {c |}{res}     20,562        1.18        6.46
{txt}          8 {c |}{res}      9,508        0.55        7.01
{txt}          9 {c |}{res}     20,562        1.18        8.19
{txt}         10 {c |}{res}      9,508        0.55        8.73
{txt}         11 {c |}{res}     20,562        1.18        9.92
{txt}         12 {c |}{res}      9,508        0.55       10.46
{txt}         13 {c |}{res}     20,562        1.18       11.64
{txt}         14 {c |}{res}      9,508        0.55       12.19
{txt}         15 {c |}{res}     20,562        1.18       13.37
{txt}         16 {c |}{res}      9,508        0.55       13.92
{txt}         17 {c |}{res}     20,562        1.18       15.10
{txt}         18 {c |}{res}      9,508        0.55       15.64
{txt}         19 {c |}{res}     20,562        1.18       16.82
{txt}         20 {c |}{res}      9,508        0.55       17.37
{txt}         21 {c |}{res}     20,562        1.18       18.55
{txt}         22 {c |}{res}      9,508        0.55       19.10
{txt}         23 {c |}{res}     20,562        1.18       20.28
{txt}         24 {c |}{res}      9,508        0.55       20.82
{txt}         25 {c |}{res}      8,752        0.50       21.33
{txt}         26 {c |}{res}      1,087        0.06       21.39
{txt}         27 {c |}{res}      8,502        0.49       21.88
{txt}         28 {c |}{res}        981        0.06       21.93
{txt}         29 {c |}{res}      8,502        0.49       22.42
{txt}         30 {c |}{res}        981        0.06       22.48
{txt}         31 {c |}{res}      8,502        0.49       22.97
{txt}         32 {c |}{res}        981        0.06       23.02
{txt}         33 {c |}{res}      8,502        0.49       23.51
{txt}         34 {c |}{res}        981        0.06       23.57
{txt}         35 {c |}{res}      8,502        0.49       24.06
{txt}         36 {c |}{res}        981        0.06       24.11
{txt}         37 {c |}{res}      8,502        0.49       24.60
{txt}         38 {c |}{res}        981        0.06       24.66
{txt}         39 {c |}{res}      8,502        0.49       25.15
{txt}         40 {c |}{res}        981        0.06       25.20
{txt}         41 {c |}{res}      8,502        0.49       25.69
{txt}         42 {c |}{res}        981        0.06       25.75
{txt}         43 {c |}{res}      8,502        0.49       26.24
{txt}         44 {c |}{res}        981        0.06       26.29
{txt}         45 {c |}{res}      8,502        0.49       26.78
{txt}         46 {c |}{res}        981        0.06       26.84
{txt}         47 {c |}{res}      8,502        0.49       27.32
{txt}         48 {c |}{res}        981        0.06       27.38
{txt}         49 {c |}{res}     17,831        1.02       28.41
{txt}         50 {c |}{res}      4,245        0.24       28.65
{txt}         51 {c |}{res}     17,321        0.99       29.64
{txt}         52 {c |}{res}      3,824        0.22       29.86
{txt}         53 {c |}{res}     17,321        0.99       30.86
{txt}         54 {c |}{res}      3,824        0.22       31.08
{txt}         55 {c |}{res}     17,321        0.99       32.07
{txt}         56 {c |}{res}      3,824        0.22       32.29
{txt}         57 {c |}{res}     17,321        0.99       33.29
{txt}         58 {c |}{res}      3,824        0.22       33.51
{txt}         59 {c |}{res}     17,321        0.99       34.50
{txt}         60 {c |}{res}      3,824        0.22       34.72
{txt}         61 {c |}{res}     17,321        0.99       35.72
{txt}         62 {c |}{res}      3,824        0.22       35.94
{txt}         63 {c |}{res}     17,321        0.99       36.93
{txt}         64 {c |}{res}      3,824        0.22       37.15
{txt}         65 {c |}{res}     17,321        0.99       38.15
{txt}         66 {c |}{res}      3,824        0.22       38.37
{txt}         67 {c |}{res}     17,321        0.99       39.36
{txt}         68 {c |}{res}      3,824        0.22       39.58
{txt}         69 {c |}{res}     17,321        0.99       40.58
{txt}         70 {c |}{res}      3,824        0.22       40.79
{txt}         71 {c |}{res}     17,321        0.99       41.79
{txt}         72 {c |}{res}      3,824        0.22       42.01
{txt}         73 {c |}{res}     23,663        1.36       43.37
{txt}         74 {c |}{res}     11,033        0.63       44.00
{txt}         75 {c |}{res}     22,895        1.32       45.32
{txt}         76 {c |}{res}      9,992        0.57       45.89
{txt}         77 {c |}{res}     22,895        1.32       47.21
{txt}         78 {c |}{res}      9,992        0.57       47.78
{txt}         79 {c |}{res}     22,895        1.32       49.10
{txt}         80 {c |}{res}      9,992        0.57       49.67
{txt}         81 {c |}{res}     22,895        1.32       50.98
{txt}         82 {c |}{res}      9,992        0.57       51.56
{txt}         83 {c |}{res}     22,895        1.32       52.87
{txt}         84 {c |}{res}      9,992        0.57       53.45
{txt}         85 {c |}{res}     22,895        1.32       54.76
{txt}         86 {c |}{res}      9,992        0.57       55.34
{txt}         87 {c |}{res}     22,895        1.32       56.65
{txt}         88 {c |}{res}      9,992        0.57       57.23
{txt}         89 {c |}{res}     22,895        1.32       58.54
{txt}         90 {c |}{res}      9,992        0.57       59.11
{txt}         91 {c |}{res}     22,895        1.32       60.43
{txt}         92 {c |}{res}      9,992        0.57       61.00
{txt}         93 {c |}{res}     22,895        1.32       62.32
{txt}         94 {c |}{res}      9,992        0.57       62.89
{txt}         95 {c |}{res}     22,895        1.32       64.21
{txt}         96 {c |}{res}      9,992        0.57       64.78
{txt}         97 {c |}{res}     14,595        0.84       65.62
{txt}         98 {c |}{res}      2,886        0.17       65.79
{txt}         99 {c |}{res}     14,170        0.81       66.60
{txt}        100 {c |}{res}      2,589        0.15       66.75
{txt}        101 {c |}{res}     14,170        0.81       67.56
{txt}        102 {c |}{res}      2,589        0.15       67.71
{txt}        103 {c |}{res}     14,170        0.81       68.52
{txt}        104 {c |}{res}      2,589        0.15       68.67
{txt}        105 {c |}{res}     14,170        0.81       69.49
{txt}        106 {c |}{res}      2,589        0.15       69.64
{txt}        107 {c |}{res}     14,170        0.81       70.45
{txt}        108 {c |}{res}      2,589        0.15       70.60
{txt}        109 {c |}{res}     14,170        0.81       71.41
{txt}        110 {c |}{res}      2,589        0.15       71.56
{txt}        111 {c |}{res}     14,170        0.81       72.37
{txt}        112 {c |}{res}      2,589        0.15       72.52
{txt}        113 {c |}{res}     14,170        0.81       73.34
{txt}        114 {c |}{res}      2,589        0.15       73.49
{txt}        115 {c |}{res}     14,170        0.81       74.30
{txt}        116 {c |}{res}      2,589        0.15       74.45
{txt}        117 {c |}{res}     14,170        0.81       75.26
{txt}        118 {c |}{res}      2,589        0.15       75.41
{txt}        119 {c |}{res}     14,170        0.81       76.23
{txt}        120 {c |}{res}      2,589        0.15       76.37
{txt}        121 {c |}{res}     14,399        0.83       77.20
{txt}        122 {c |}{res}      3,228        0.19       77.39
{txt}        123 {c |}{res}     13,940        0.80       78.19
{txt}        124 {c |}{res}      2,917        0.17       78.35
{txt}        125 {c |}{res}     13,940        0.80       79.16
{txt}        126 {c |}{res}      2,917        0.17       79.32
{txt}        127 {c |}{res}     13,940        0.80       80.12
{txt}        128 {c |}{res}      2,917        0.17       80.29
{txt}        129 {c |}{res}     13,940        0.80       81.09
{txt}        130 {c |}{res}      2,917        0.17       81.26
{txt}        131 {c |}{res}     13,940        0.80       82.06
{txt}        132 {c |}{res}      2,917        0.17       82.23
{txt}        133 {c |}{res}     13,940        0.80       83.03
{txt}        134 {c |}{res}      2,917        0.17       83.20
{txt}        135 {c |}{res}     13,940        0.80       84.00
{txt}        136 {c |}{res}      2,917        0.17       84.16
{txt}        137 {c |}{res}     13,940        0.80       84.96
{txt}        138 {c |}{res}      2,917        0.17       85.13
{txt}        139 {c |}{res}     13,940        0.80       85.93
{txt}        140 {c |}{res}      2,917        0.17       86.10
{txt}        141 {c |}{res}     13,940        0.80       86.90
{txt}        142 {c |}{res}      2,917        0.17       87.07
{txt}        143 {c |}{res}     13,940        0.80       87.87
{txt}        144 {c |}{res}      2,917        0.17       88.04
{txt}        145 {c |}{res}      5,023        0.29       88.33
{txt}        146 {c |}{res}        616        0.04       88.36
{txt}        147 {c |}{res}      4,843        0.28       88.64
{txt}        148 {c |}{res}        544        0.03       88.67
{txt}        149 {c |}{res}      4,843        0.28       88.95
{txt}        150 {c |}{res}        544        0.03       88.98
{txt}        151 {c |}{res}      4,843        0.28       89.26
{txt}        152 {c |}{res}        544        0.03       89.29
{txt}        153 {c |}{res}      4,843        0.28       89.57
{txt}        154 {c |}{res}        544        0.03       89.60
{txt}        155 {c |}{res}      4,843        0.28       89.88
{txt}        156 {c |}{res}        544        0.03       89.91
{txt}        157 {c |}{res}      4,843        0.28       90.19
{txt}        158 {c |}{res}        544        0.03       90.22
{txt}        159 {c |}{res}      4,843        0.28       90.50
{txt}        160 {c |}{res}        544        0.03       90.53
{txt}        161 {c |}{res}      4,843        0.28       90.81
{txt}        162 {c |}{res}        544        0.03       90.84
{txt}        163 {c |}{res}      4,843        0.28       91.11
{txt}        164 {c |}{res}        544        0.03       91.15
{txt}        165 {c |}{res}      4,843        0.28       91.42
{txt}        166 {c |}{res}        544        0.03       91.46
{txt}        167 {c |}{res}      4,843        0.28       91.73
{txt}        168 {c |}{res}        544        0.03       91.76
{txt}        169 {c |}{res}     10,589        0.61       92.37
{txt}        170 {c |}{res}      1,711        0.10       92.47
{txt}        171 {c |}{res}     10,347        0.59       93.07
{txt}        172 {c |}{res}      1,569        0.09       93.16
{txt}        173 {c |}{res}     10,347        0.59       93.75
{txt}        174 {c |}{res}      1,569        0.09       93.84
{txt}        175 {c |}{res}     10,347        0.59       94.43
{txt}        176 {c |}{res}      1,569        0.09       94.52
{txt}        177 {c |}{res}     10,347        0.59       95.12
{txt}        178 {c |}{res}      1,569        0.09       95.21
{txt}        179 {c |}{res}     10,347        0.59       95.80
{txt}        180 {c |}{res}      1,569        0.09       95.89
{txt}        181 {c |}{res}     10,347        0.59       96.49
{txt}        182 {c |}{res}      1,569        0.09       96.58
{txt}        183 {c |}{res}     10,347        0.59       97.17
{txt}        184 {c |}{res}      1,569        0.09       97.26
{txt}        185 {c |}{res}     10,347        0.59       97.86
{txt}        186 {c |}{res}      1,569        0.09       97.95
{txt}        187 {c |}{res}     10,347        0.59       98.54
{txt}        188 {c |}{res}      1,569        0.09       98.63
{txt}        189 {c |}{res}     10,347        0.59       99.23
{txt}        190 {c |}{res}      1,569        0.09       99.32
{txt}        191 {c |}{res}     10,347        0.59       99.91
{txt}        192 {c |}{res}      1,569        0.09      100.00
{txt}{hline 12}{c +}{hline 35}
      Total {c |}{res}  1,740,985      100.00
{txt}
{com}. 
. 
. *Product
. reghdfe dlogunits i.presub3af10##ib1.treataf i.presub2af10##ib1.treataf i.presub1af10##ib1.treataf i.sub1af10##ib1.treataf i.sub2af10##ib1.treataf i.sub3af10##ib1.treataf i.postsub1af10##ib1.treataf i.postsub2af10##ib1.treataf i.postsub3af10##ib1.treataf  mage mage2 , absorb(id2 cmt) cluster(id)
{res}{txt}(dropped 212751 {browse "http://scorreia.com/research/singletons.pdf":singleton observations})
{res}{txt}note: {res}0bn.treataf{txt} is probably collinear with the fixed effects (all partialled-out values are close to zero; tol = 1.0e-09)
{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 13 iterations)
{res}{txt}note: 0.treataf omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}   537,385
{txt}Absorbing 2 HDFE groups{col 51}F({res}  20{txt},{res}  11691{txt}){col 67}= {res}     11.08
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.4452
{txt}{col 51}Adj R-squared{col 67}= {res}    0.0842
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0005
{txt}{col 1}Number of clusters ({res}id{txt}) {col 30}= {res}    11,692{txt}{col 51}Root MSE{col 67}= {res}    0.6955

{txt}{ralign 86:(Std. Err. adjusted for {res:11,692} clusters in id)}
{hline 21}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 22}{c |}{col 34}    Robust
{col 1}           dlogunits{col 22}{c |}      Coef.{col 34}   Std. Err.{col 46}      t{col 54}   P>|t|{col 62}     [95% Con{col 75}f. Interval]
{hline 21}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}1.presub3af10 {c |}{col 22}{res}{space 2} .0733191{col 34}{space 2} .0891179{col 45}{space 1}    0.82{col 54}{space 3}0.411{col 62}{space 4} -.101367{col 75}{space 3} .2480051
{txt}{space 11}0.treataf {c |}{col 22}{res}{space 2}        0{col 34}{txt}  (omitted)
{space 20} {c |}
{space 1}presub3af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2}-.0417817{col 34}{space 2} .1019537{col 45}{space 1}   -0.41{col 54}{space 3}0.682{col 62}{space 4}-.2416279{col 75}{space 3} .1580646
{txt}{space 20} {c |}
{space 7}1.presub2af10 {c |}{col 22}{res}{space 2}-.1085019{col 34}{space 2} .0794207{col 45}{space 1}   -1.37{col 54}{space 3}0.172{col 62}{space 4}-.2641797{col 75}{space 3}  .047176
{txt}{space 20} {c |}
{space 1}presub2af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2} .0143118{col 34}{space 2} .0889979{col 45}{space 1}    0.16{col 54}{space 3}0.872{col 62}{space 4}-.1601389{col 75}{space 3} .1887625
{txt}{space 20} {c |}
{space 7}1.presub1af10 {c |}{col 22}{res}{space 2}-.1259205{col 34}{space 2} .0854911{col 45}{space 1}   -1.47{col 54}{space 3}0.141{col 62}{space 4}-.2934973{col 75}{space 3} .0416564
{txt}{space 20} {c |}
{space 1}presub1af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2} .1773371{col 34}{space 2} .0959659{col 45}{space 1}    1.85{col 54}{space 3}0.065{col 62}{space 4}-.0107721{col 75}{space 3} .3654463
{txt}{space 20} {c |}
{space 10}1.sub1af10 {c |}{col 22}{res}{space 2}  .513684{col 34}{space 2} .0781717{col 45}{space 1}    6.57{col 54}{space 3}0.000{col 62}{space 4} .3604544{col 75}{space 3} .6669137
{txt}{space 20} {c |}
{space 4}sub1af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2}-.5350605{col 34}{space 2} .0876618{col 45}{space 1}   -6.10{col 54}{space 3}0.000{col 62}{space 4}-.7068922{col 75}{space 3}-.3632288
{txt}{space 20} {c |}
{space 10}1.sub2af10 {c |}{col 22}{res}{space 2} .0965368{col 34}{space 2} .0759391{col 45}{space 1}    1.27{col 54}{space 3}0.204{col 62}{space 4}-.0523165{col 75}{space 3}   .24539
{txt}{space 20} {c |}
{space 4}sub2af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2}-.0061497{col 34}{space 2} .0906122{col 45}{space 1}   -0.07{col 54}{space 3}0.946{col 62}{space 4}-.1837648{col 75}{space 3} .1714655
{txt}{space 20} {c |}
{space 10}1.sub3af10 {c |}{col 22}{res}{space 2}-.0436186{col 34}{space 2} .0660563{col 45}{space 1}   -0.66{col 54}{space 3}0.509{col 62}{space 4}   -.1731{col 75}{space 3} .0858629
{txt}{space 20} {c |}
{space 4}sub3af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2} .0341015{col 34}{space 2}  .078343{col 45}{space 1}    0.44{col 54}{space 3}0.663{col 62}{space 4}-.1194637{col 75}{space 3} .1876668
{txt}{space 20} {c |}
{space 6}1.postsub1af10 {c |}{col 22}{res}{space 2}-.1925772{col 34}{space 2} .0695964{col 45}{space 1}   -2.77{col 54}{space 3}0.006{col 62}{space 4}-.3289978{col 75}{space 3}-.0561567
{txt}{space 20} {c |}
postsub1af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2} .1553542{col 34}{space 2} .0850543{col 45}{space 1}    1.83{col 54}{space 3}0.068{col 62}{space 4}-.0113665{col 75}{space 3} .3220748
{txt}{space 20} {c |}
{space 6}1.postsub2af10 {c |}{col 22}{res}{space 2}-.1447465{col 34}{space 2} .0591904{col 45}{space 1}   -2.45{col 54}{space 3}0.014{col 62}{space 4}-.2607697{col 75}{space 3}-.0287234
{txt}{space 20} {c |}
postsub2af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2}  .012648{col 34}{space 2}  .073467{col 45}{space 1}    0.17{col 54}{space 3}0.863{col 62}{space 4}-.1313595{col 75}{space 3} .1566556
{txt}{space 20} {c |}
{space 6}1.postsub3af10 {c |}{col 22}{res}{space 2}-.0102723{col 34}{space 2}  .071937{col 45}{space 1}   -0.14{col 54}{space 3}0.886{col 62}{space 4}-.1512808{col 75}{space 3} .1307361
{txt}{space 20} {c |}
postsub3af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2}  .056745{col 34}{space 2} .0866273{col 45}{space 1}    0.66{col 54}{space 3}0.512{col 62}{space 4} -.113059{col 75}{space 3}  .226549
{txt}{space 20} {c |}
{space 16}mage {c |}{col 22}{res}{space 2} -.002898{col 34}{space 2} .0003153{col 45}{space 1}   -9.19{col 54}{space 3}0.000{col 62}{space 4}-.0035162{col 75}{space 3}-.0022799
{txt}{space 15}mage2 {c |}{col 22}{res}{space 2} .0000212{col 34}{space 2} 3.47e-06{col 45}{space 1}    6.11{col 54}{space 3}0.000{col 62}{space 4} .0000144{col 75}{space 3}  .000028
{txt}{space 15}_cons {c |}{col 22}{res}{space 2} .0424736{col 34}{space 2} .0053218{col 45}{space 1}    7.98{col 54}{space 3}0.000{col 62}{space 4}  .032042{col 75}{space 3} .0529052
{txt}{hline 21}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}         id2{col 14}{c |}{space 1}   211609{col 27}{space 1}   211609{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}         cmt{col 14}{c |}{space 1}      192{col 27}{space 1}        0{col 39}{result}{space 1}      192{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}. est store subu
{txt}
{com}. 
. *Country-date
. reghdfe dlogunits i.presub3af10##ib1.treataf i.presub2af10##ib1.treataf i.presub1af10##ib1.treataf i.sub1af10##ib1.treataf i.sub2af10##ib1.treataf i.sub3af10##ib1.treataf i.postsub1af10##ib1.treataf i.postsub2af10##ib1.treataf i.postsub3af10##ib1.treataf  mage mage2 , absorb(id2 cmt) cluster(cd)
{res}{txt}(dropped 212751 {browse "http://scorreia.com/research/singletons.pdf":singleton observations})
{res}{txt}note: {res}0bn.treataf{txt} is probably collinear with the fixed effects (all partialled-out values are close to zero; tol = 1.0e-09)
{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 13 iterations)
{res}{txt}note: 0.treataf omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}   537,385
{txt}Absorbing 2 HDFE groups{col 51}F({res}  20{txt},{res}   1199{txt}){col 67}= {res}     15.58
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.4452
{txt}{col 51}Adj R-squared{col 67}= {res}    0.0843
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0005
{txt}{col 1}Number of clusters ({res}cd{txt}) {col 30}= {res}     1,200{txt}{col 51}Root MSE{col 67}= {res}    0.6955

{txt}{ralign 86:(Std. Err. adjusted for {res:1,200} clusters in cd)}
{hline 21}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 22}{c |}{col 34}    Robust
{col 1}           dlogunits{col 22}{c |}      Coef.{col 34}   Std. Err.{col 46}      t{col 54}   P>|t|{col 62}     [95% Con{col 75}f. Interval]
{hline 21}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}1.presub3af10 {c |}{col 22}{res}{space 2} .0733191{col 34}{space 2} .0856017{col 45}{space 1}    0.86{col 54}{space 3}0.392{col 62}{space 4}-.0946267{col 75}{space 3} .2412648
{txt}{space 11}0.treataf {c |}{col 22}{res}{space 2}        0{col 34}{txt}  (omitted)
{space 20} {c |}
{space 1}presub3af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2}-.0417817{col 34}{space 2} .0792145{col 45}{space 1}   -0.53{col 54}{space 3}0.598{col 62}{space 4}-.1971961{col 75}{space 3} .1136328
{txt}{space 20} {c |}
{space 7}1.presub2af10 {c |}{col 22}{res}{space 2}-.1085019{col 34}{space 2} .0503706{col 45}{space 1}   -2.15{col 54}{space 3}0.031{col 62}{space 4}-.2073263{col 75}{space 3}-.0096774
{txt}{space 20} {c |}
{space 1}presub2af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2} .0143118{col 34}{space 2} .0445917{col 45}{space 1}    0.32{col 54}{space 3}0.748{col 62}{space 4}-.0731747{col 75}{space 3} .1017982
{txt}{space 20} {c |}
{space 7}1.presub1af10 {c |}{col 22}{res}{space 2}-.1259205{col 34}{space 2}  .021069{col 45}{space 1}   -5.98{col 54}{space 3}0.000{col 62}{space 4}-.1672566{col 75}{space 3}-.0845843
{txt}{space 20} {c |}
{space 1}presub1af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2} .1773371{col 34}{space 2} .0431151{col 45}{space 1}    4.11{col 54}{space 3}0.000{col 62}{space 4} .0927476{col 75}{space 3} .2619266
{txt}{space 20} {c |}
{space 10}1.sub1af10 {c |}{col 22}{res}{space 2}  .513684{col 34}{space 2}  .041669{col 45}{space 1}   12.33{col 54}{space 3}0.000{col 62}{space 4} .4319317{col 75}{space 3} .5954364
{txt}{space 20} {c |}
{space 4}sub1af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2}-.5350605{col 34}{space 2} .0460657{col 45}{space 1}  -11.62{col 54}{space 3}0.000{col 62}{space 4}-.6254389{col 75}{space 3}-.4446821
{txt}{space 20} {c |}
{space 10}1.sub2af10 {c |}{col 22}{res}{space 2} .0965368{col 34}{space 2} .0319348{col 45}{space 1}    3.02{col 54}{space 3}0.003{col 62}{space 4} .0338825{col 75}{space 3}  .159191
{txt}{space 20} {c |}
{space 4}sub2af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2}-.0061497{col 34}{space 2} .0270469{col 45}{space 1}   -0.23{col 54}{space 3}0.820{col 62}{space 4}-.0592141{col 75}{space 3} .0469148
{txt}{space 20} {c |}
{space 10}1.sub3af10 {c |}{col 22}{res}{space 2}-.0436186{col 34}{space 2}  .031057{col 45}{space 1}   -1.40{col 54}{space 3}0.160{col 62}{space 4}-.1045507{col 75}{space 3} .0173136
{txt}{space 20} {c |}
{space 4}sub3af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2} .0341015{col 34}{space 2} .0364659{col 45}{space 1}    0.94{col 54}{space 3}0.350{col 62}{space 4}-.0374426{col 75}{space 3} .1056456
{txt}{space 20} {c |}
{space 6}1.postsub1af10 {c |}{col 22}{res}{space 2}-.1925772{col 34}{space 2}  .046832{col 45}{space 1}   -4.11{col 54}{space 3}0.000{col 62}{space 4}-.2844591{col 75}{space 3}-.1006953
{txt}{space 20} {c |}
postsub1af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2} .1553542{col 34}{space 2} .0340449{col 45}{space 1}    4.56{col 54}{space 3}0.000{col 62}{space 4} .0885599{col 75}{space 3} .2221484
{txt}{space 20} {c |}
{space 6}1.postsub2af10 {c |}{col 22}{res}{space 2}-.1447465{col 34}{space 2} .0315559{col 45}{space 1}   -4.59{col 54}{space 3}0.000{col 62}{space 4}-.2066574{col 75}{space 3}-.0828357
{txt}{space 20} {c |}
postsub2af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2}  .012648{col 34}{space 2} .0394872{col 45}{space 1}    0.32{col 54}{space 3}0.749{col 62}{space 4}-.0648236{col 75}{space 3} .0901197
{txt}{space 20} {c |}
{space 6}1.postsub3af10 {c |}{col 22}{res}{space 2}-.0102723{col 34}{space 2} .0319888{col 45}{space 1}   -0.32{col 54}{space 3}0.748{col 62}{space 4}-.0730326{col 75}{space 3} .0524879
{txt}{space 20} {c |}
postsub3af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2}  .056745{col 34}{space 2} .0451444{col 45}{space 1}    1.26{col 54}{space 3}0.209{col 62}{space 4}-.0318258{col 75}{space 3} .1453158
{txt}{space 20} {c |}
{space 16}mage {c |}{col 22}{res}{space 2} -.002898{col 34}{space 2} .0005597{col 45}{space 1}   -5.18{col 54}{space 3}0.000{col 62}{space 4}-.0039962{col 75}{space 3}-.0017999
{txt}{space 15}mage2 {c |}{col 22}{res}{space 2} .0000212{col 34}{space 2} 6.01e-06{col 45}{space 1}    3.53{col 54}{space 3}0.000{col 62}{space 4} 9.40e-06{col 75}{space 3}  .000033
{txt}{space 15}_cons {c |}{col 22}{res}{space 2} .0424736{col 34}{space 2} .0099021{col 45}{space 1}    4.29{col 54}{space 3}0.000{col 62}{space 4} .0230463{col 75}{space 3} .0619009
{txt}{hline 21}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}         id2{col 14}{c |}{space 1}   211609{col 27}{space 1}        0{col 39}{result}{space 1}   211609{col 53}{text} {col 54}{c |}
{res}{col 1}{text}         cmt{col 14}{c |}{space 1}      192{col 27}{space 1}       24{col 39}{result}{space 1}      168{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
{res}{txt}
{com}. est store subu1
{txt}
{com}. 
. *Country
. reghdfe dlogunits i.presub3af10##ib1.treataf i.presub2af10##ib1.treataf i.presub1af10##ib1.treataf i.sub1af10##ib1.treataf i.sub2af10##ib1.treataf i.sub3af10##ib1.treataf i.postsub1af10##ib1.treataf i.postsub2af10##ib1.treataf i.postsub3af10##ib1.treataf  mage mage2 , absorb(id2 cmt) cluster(country)
{res}{txt}(dropped 212751 {browse "http://scorreia.com/research/singletons.pdf":singleton observations})
{res}{txt}note: {res}0bn.treataf{txt} is probably collinear with the fixed effects (all partialled-out values are close to zero; tol = 1.0e-09)
{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 13 iterations)
{res}{txt}warning: missing F statistic; dropped variables due to collinearity or too few clusters
{txt}note: 0.treataf omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}   537,385
{txt}Absorbing 2 HDFE groups{col 51}{help j_robustsingular##|_new:F(  20,      7)}{col 67}=          {res}.
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}=          {res}.
{txt}{col 51}R-squared{col 67}= {res}    0.4452
{txt}{col 51}Adj R-squared{col 67}= {res}    0.0842
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0005
{txt}{col 1}Number of clusters ({res}country{txt}) {col 30}= {res}         8{txt}{col 51}Root MSE{col 67}= {res}    0.6955

{txt}{ralign 86:(Std. Err. adjusted for {res:8} clusters in country)}
{hline 21}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 22}{c |}{col 34}    Robust
{col 1}           dlogunits{col 22}{c |}      Coef.{col 34}   Std. Err.{col 46}      t{col 54}   P>|t|{col 62}     [95% Con{col 75}f. Interval]
{hline 21}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}1.presub3af10 {c |}{col 22}{res}{space 2} .0733191{col 34}{space 2} .0993837{col 45}{space 1}    0.74{col 54}{space 3}0.485{col 62}{space 4}-.1616859{col 75}{space 3} .3083241
{txt}{space 11}0.treataf {c |}{col 22}{res}{space 2}        0{col 34}{txt}  (omitted)
{space 20} {c |}
{space 1}presub3af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2}-.0417817{col 34}{space 2} .0919551{col 45}{space 1}   -0.45{col 54}{space 3}0.663{col 62}{space 4} -.259221{col 75}{space 3} .1756577
{txt}{space 20} {c |}
{space 7}1.presub2af10 {c |}{col 22}{res}{space 2}-.1085019{col 34}{space 2} .0490771{col 45}{space 1}   -2.21{col 54}{space 3}0.063{col 62}{space 4}-.2245508{col 75}{space 3} .0075471
{txt}{space 20} {c |}
{space 1}presub2af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2} .0143118{col 34}{space 2} .0425253{col 45}{space 1}    0.34{col 54}{space 3}0.746{col 62}{space 4}-.0862447{col 75}{space 3} .1148682
{txt}{space 20} {c |}
{space 7}1.presub1af10 {c |}{col 22}{res}{space 2}-.1259205{col 34}{space 2} .0172382{col 45}{space 1}   -7.30{col 54}{space 3}0.000{col 62}{space 4}-.1666824{col 75}{space 3}-.0851586
{txt}{space 20} {c |}
{space 1}presub1af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2} .1773371{col 34}{space 2} .0471102{col 45}{space 1}    3.76{col 54}{space 3}0.007{col 62}{space 4} .0659392{col 75}{space 3}  .288735
{txt}{space 20} {c |}
{space 10}1.sub1af10 {c |}{col 22}{res}{space 2}  .513684{col 34}{space 2} .0205133{col 45}{space 1}   25.04{col 54}{space 3}0.000{col 62}{space 4} .4651778{col 75}{space 3} .5621902
{txt}{space 20} {c |}
{space 4}sub1af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2}-.5350605{col 34}{space 2} .0338396{col 45}{space 1}  -15.81{col 54}{space 3}0.000{col 62}{space 4}-.6150784{col 75}{space 3}-.4550426
{txt}{space 20} {c |}
{space 10}1.sub2af10 {c |}{col 22}{res}{space 2} .0965368{col 34}{space 2} .0202729{col 45}{space 1}    4.76{col 54}{space 3}0.002{col 62}{space 4} .0485989{col 75}{space 3} .1444746
{txt}{space 20} {c |}
{space 4}sub2af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2}-.0061497{col 34}{space 2} .0259907{col 45}{space 1}   -0.24{col 54}{space 3}0.820{col 62}{space 4} -.067608{col 75}{space 3} .0553087
{txt}{space 20} {c |}
{space 10}1.sub3af10 {c |}{col 22}{res}{space 2}-.0436186{col 34}{space 2} .0279254{col 45}{space 1}   -1.56{col 54}{space 3}0.162{col 62}{space 4}-.1096516{col 75}{space 3} .0224145
{txt}{space 20} {c |}
{space 4}sub3af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2} .0341015{col 34}{space 2} .0375407{col 45}{space 1}    0.91{col 54}{space 3}0.394{col 62}{space 4}-.0546681{col 75}{space 3} .1228711
{txt}{space 20} {c |}
{space 6}1.postsub1af10 {c |}{col 22}{res}{space 2}-.1925772{col 34}{space 2} .0492121{col 45}{space 1}   -3.91{col 54}{space 3}0.006{col 62}{space 4}-.3089454{col 75}{space 3}-.0762091
{txt}{space 20} {c |}
postsub1af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2} .1553542{col 34}{space 2} .0354782{col 45}{space 1}    4.38{col 54}{space 3}0.003{col 62}{space 4} .0714616{col 75}{space 3} .2392468
{txt}{space 20} {c |}
{space 6}1.postsub2af10 {c |}{col 22}{res}{space 2}-.1447465{col 34}{space 2} .0240556{col 45}{space 1}   -6.02{col 54}{space 3}0.001{col 62}{space 4}-.2016289{col 75}{space 3}-.0878642
{txt}{space 20} {c |}
postsub2af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2}  .012648{col 34}{space 2} .0167347{col 45}{space 1}    0.76{col 54}{space 3}0.474{col 62}{space 4}-.0269233{col 75}{space 3} .0522194
{txt}{space 20} {c |}
{space 6}1.postsub3af10 {c |}{col 22}{res}{space 2}-.0102723{col 34}{space 2} .0318673{col 45}{space 1}   -0.32{col 54}{space 3}0.757{col 62}{space 4}-.0856266{col 75}{space 3} .0650819
{txt}{space 20} {c |}
postsub3af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2}  .056745{col 34}{space 2} .0345576{col 45}{space 1}    1.64{col 54}{space 3}0.145{col 62}{space 4}-.0249709{col 75}{space 3} .1384608
{txt}{space 20} {c |}
{space 16}mage {c |}{col 22}{res}{space 2} -.002898{col 34}{space 2} .0007566{col 45}{space 1}   -3.83{col 54}{space 3}0.006{col 62}{space 4}-.0046872{col 75}{space 3}-.0011089
{txt}{space 15}mage2 {c |}{col 22}{res}{space 2} .0000212{col 34}{space 2} 6.93e-06{col 45}{space 1}    3.06{col 54}{space 3}0.018{col 62}{space 4} 4.80e-06{col 75}{space 3} .0000376
{txt}{space 15}_cons {c |}{col 22}{res}{space 2} .0424736{col 34}{space 2} .0135452{col 45}{space 1}    3.14{col 54}{space 3}0.016{col 62}{space 4} .0104444{col 75}{space 3} .0745029
{txt}{hline 21}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}         id2{col 14}{c |}{space 1}   211609{col 27}{space 1}        0{col 39}{result}{space 1}   211609{col 53}{text} {col 54}{c |}
{res}{col 1}{text}         cmt{col 14}{c |}{space 1}      192{col 27}{space 1}      192{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}. est store subu2
{txt}
{com}. 
. *Country and id
. reghdfe dlogunits i.presub3af10##ib1.treataf i.presub2af10##ib1.treataf i.presub1af10##ib1.treataf i.sub1af10##ib1.treataf i.sub2af10##ib1.treataf i.sub3af10##ib1.treataf i.postsub1af10##ib1.treataf i.postsub2af10##ib1.treataf i.postsub3af10##ib1.treataf  mage mage2 , absorb(id2 cmt) cluster(country id)
{res}{txt}(dropped 212751 {browse "http://scorreia.com/research/singletons.pdf":singleton observations})
{res}{txt}note: {res}0bn.treataf{txt} is probably collinear with the fixed effects (all partialled-out values are close to zero; tol = 1.0e-09)
{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 13 iterations)
{res}{txt}Warning: VCV matrix was non-positive semi-definite; adjustment from Cameron, Gelbach & Miller applied.
{txt}note: 0.treataf omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}   537,385
{txt}Absorbing 2 HDFE groups{col 51}F({res}  20{txt},{res}      7{txt}){col 67}= {res}      9.33
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0028
{txt}{col 51}R-squared{col 67}= {res}    0.4452
{txt}{col 51}Adj R-squared{col 67}= {res}    0.0842
{txt}{col 1}Number of clusters ({res}country{txt}) {col 30}= {res}         8{txt}{col 51}Within R-sq.{col 67}= {res}    0.0005
{txt}{col 1}Number of clusters ({res}id{txt}) {col 30}= {res}    11,692{txt}{col 51}Root MSE{col 67}= {res}    0.6955

{txt}{ralign 86:(Std. Err. adjusted for {res:8} clusters in country id)}
{hline 21}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 22}{c |}{col 34}    Robust
{col 1}           dlogunits{col 22}{c |}      Coef.{col 34}   Std. Err.{col 46}      t{col 54}   P>|t|{col 62}     [95% Con{col 75}f. Interval]
{hline 21}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}1.presub3af10 {c |}{col 22}{res}{space 2} .0733191{col 34}{space 2}  .100242{col 45}{space 1}    0.73{col 54}{space 3}0.488{col 62}{space 4}-.1637156{col 75}{space 3} .3103538
{txt}{space 11}0.treataf {c |}{col 22}{res}{space 2}        0{col 34}{space 2} 3.61e-10{col 45}{space 1}    0.00{col 54}{space 3}1.000{col 62}{space 4}-8.54e-10{col 75}{space 3} 8.54e-10
{txt}{space 20} {c |}
{space 1}presub3af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2}-.0417817{col 34}{space 2} .1018928{col 45}{space 1}   -0.41{col 54}{space 3}0.694{col 62}{space 4}-.2827199{col 75}{space 3} .1991565
{txt}{space 20} {c |}
{space 7}1.presub2af10 {c |}{col 22}{res}{space 2}-.1085019{col 34}{space 2}  .068123{col 45}{space 1}   -1.59{col 54}{space 3}0.155{col 62}{space 4} -.269587{col 75}{space 3} .0525833
{txt}{space 20} {c |}
{space 1}presub2af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2} .0143118{col 34}{space 2}  .071086{col 45}{space 1}    0.20{col 54}{space 3}0.846{col 62}{space 4}-.1537799{col 75}{space 3} .1824034
{txt}{space 20} {c |}
{space 7}1.presub1af10 {c |}{col 22}{res}{space 2}-.1259205{col 34}{space 2}  .062595{col 45}{space 1}   -2.01{col 54}{space 3}0.084{col 62}{space 4}-.2739341{col 75}{space 3} .0220932
{txt}{space 20} {c |}
{space 1}presub1af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2} .1773371{col 34}{space 2}  .077174{col 45}{space 1}    2.30{col 54}{space 3}0.055{col 62}{space 4}-.0051504{col 75}{space 3} .3598245
{txt}{space 20} {c |}
{space 10}1.sub1af10 {c |}{col 22}{res}{space 2}  .513684{col 34}{space 2} .0585881{col 45}{space 1}    8.77{col 54}{space 3}0.000{col 62}{space 4} .3751452{col 75}{space 3} .6522228
{txt}{space 20} {c |}
{space 4}sub1af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2}-.5350605{col 34}{space 2} .0678181{col 45}{space 1}   -7.89{col 54}{space 3}0.000{col 62}{space 4}-.6954247{col 75}{space 3}-.3746963
{txt}{space 20} {c |}
{space 10}1.sub2af10 {c |}{col 22}{res}{space 2} .0965368{col 34}{space 2} .0571584{col 45}{space 1}    1.69{col 54}{space 3}0.135{col 62}{space 4}-.0386213{col 75}{space 3} .2316948
{txt}{space 20} {c |}
{space 4}sub2af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2}-.0061497{col 34}{space 2} .0678613{col 45}{space 1}   -0.09{col 54}{space 3}0.930{col 62}{space 4}-.1666162{col 75}{space 3} .1543169
{txt}{space 20} {c |}
{space 10}1.sub3af10 {c |}{col 22}{res}{space 2}-.0436186{col 34}{space 2} .0526274{col 45}{space 1}   -0.83{col 54}{space 3}0.435{col 62}{space 4}-.1680627{col 75}{space 3} .0808256
{txt}{space 20} {c |}
{space 4}sub3af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2} .0341015{col 34}{space 2} .0632282{col 45}{space 1}    0.54{col 54}{space 3}0.606{col 62}{space 4}-.1154094{col 75}{space 3} .1836125
{txt}{space 20} {c |}
{space 6}1.postsub1af10 {c |}{col 22}{res}{space 2}-.1925772{col 34}{space 2} .0634568{col 45}{space 1}   -3.03{col 54}{space 3}0.019{col 62}{space 4}-.3426286{col 75}{space 3}-.0425258
{txt}{space 20} {c |}
postsub1af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2} .1553542{col 34}{space 2} .0666683{col 45}{space 1}    2.33{col 54}{space 3}0.053{col 62}{space 4}-.0022913{col 75}{space 3} .3129996
{txt}{space 20} {c |}
{space 6}1.postsub2af10 {c |}{col 22}{res}{space 2}-.1447465{col 34}{space 2} .0452996{col 45}{space 1}   -3.20{col 54}{space 3}0.015{col 62}{space 4}-.2518631{col 75}{space 3}  -.03763
{txt}{space 20} {c |}
postsub2af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2}  .012648{col 34}{space 2} .0526495{col 45}{space 1}    0.24{col 54}{space 3}0.817{col 62}{space 4}-.1118484{col 75}{space 3} .1371444
{txt}{space 20} {c |}
{space 6}1.postsub3af10 {c |}{col 22}{res}{space 2}-.0102723{col 34}{space 2} .0567074{col 45}{space 1}   -0.18{col 54}{space 3}0.861{col 62}{space 4}-.1443639{col 75}{space 3} .1238192
{txt}{space 20} {c |}
postsub3af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2}  .056745{col 34}{space 2} .0664886{col 45}{space 1}    0.85{col 54}{space 3}0.422{col 62}{space 4}-.1004756{col 75}{space 3} .2139656
{txt}{space 20} {c |}
{space 16}mage {c |}{col 22}{res}{space 2} -.002898{col 34}{space 2} .0006237{col 45}{space 1}   -4.65{col 54}{space 3}0.002{col 62}{space 4}-.0043727{col 75}{space 3}-.0014233
{txt}{space 15}mage2 {c |}{col 22}{res}{space 2} .0000212{col 34}{space 2} 5.89e-06{col 45}{space 1}    3.59{col 54}{space 3}0.009{col 62}{space 4} 7.25e-06{col 75}{space 3} .0000351
{txt}{space 15}_cons {c |}{col 22}{res}{space 2} .0424736{col 34}{space 2} .0110305{col 45}{space 1}    3.85{col 54}{space 3}0.006{col 62}{space 4} .0163905{col 75}{space 3} .0685567
{txt}{hline 21}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}         id2{col 14}{c |}{space 1}   211609{col 27}{space 1}   211609{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}         cmt{col 14}{c |}{space 1}      192{col 27}{space 1}      192{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}. est store subu3
{txt}
{com}. 
. esttab  subu subu2 subu1 subu3  , se star(* 0.10 ** 0.05 *** 0.01) mtitles nogaps  scalars(N ) order(1.presub2af10 1.presub1af10 1.sub1af10 1.sub2af10 1.sub3af10 1.postsub1af10 1.postsub2af10) keep(1.presub2af10 1.presub1af10 1.sub1af10 1.sub2af10 1.sub3af10 1.postsub1af10 1.postsub2af10) 
{res}
{txt}{hline 76}
{txt}                      (1)             (2)             (3)             (4)   
{txt}                     subu           subu2           subu1           subu3   
{txt}{hline 76}
{txt}1.presub2~10{res}       -0.109          -0.109*         -0.109**        -0.109   {txt}
            {res} {ralign 12:{txt:(}0.0794{txt:)}}    {ralign 12:{txt:(}0.0491{txt:)}}    {ralign 12:{txt:(}0.0504{txt:)}}    {ralign 12:{txt:(}0.0681{txt:)}}   {txt}
{txt}1.presub1~10{res}       -0.126          -0.126***       -0.126***       -0.126*  {txt}
            {res} {ralign 12:{txt:(}0.0855{txt:)}}    {ralign 12:{txt:(}0.0172{txt:)}}    {ralign 12:{txt:(}0.0211{txt:)}}    {ralign 12:{txt:(}0.0626{txt:)}}   {txt}
{txt}1.sub1af10  {res}        0.514***        0.514***        0.514***        0.514***{txt}
            {res} {ralign 12:{txt:(}0.0782{txt:)}}    {ralign 12:{txt:(}0.0205{txt:)}}    {ralign 12:{txt:(}0.0417{txt:)}}    {ralign 12:{txt:(}0.0586{txt:)}}   {txt}
{txt}1.sub2af10  {res}       0.0965          0.0965***       0.0965***       0.0965   {txt}
            {res} {ralign 12:{txt:(}0.0759{txt:)}}    {ralign 12:{txt:(}0.0203{txt:)}}    {ralign 12:{txt:(}0.0319{txt:)}}    {ralign 12:{txt:(}0.0572{txt:)}}   {txt}
{txt}1.sub3af10  {res}      -0.0436         -0.0436         -0.0436         -0.0436   {txt}
            {res} {ralign 12:{txt:(}0.0661{txt:)}}    {ralign 12:{txt:(}0.0279{txt:)}}    {ralign 12:{txt:(}0.0311{txt:)}}    {ralign 12:{txt:(}0.0526{txt:)}}   {txt}
{txt}1.postsub1~0{res}       -0.193***       -0.193***       -0.193***       -0.193** {txt}
            {res} {ralign 12:{txt:(}0.0696{txt:)}}    {ralign 12:{txt:(}0.0492{txt:)}}    {ralign 12:{txt:(}0.0468{txt:)}}    {ralign 12:{txt:(}0.0635{txt:)}}   {txt}
{txt}1.postsub2~0{res}       -0.145**        -0.145***       -0.145***       -0.145** {txt}
            {res} {ralign 12:{txt:(}0.0592{txt:)}}    {ralign 12:{txt:(}0.0241{txt:)}}    {ralign 12:{txt:(}0.0316{txt:)}}    {ralign 12:{txt:(}0.0453{txt:)}}   {txt}
{txt}{hline 76}
{txt}N           {res}       537385          537385          537385          537385   {txt}
{txt}{hline 76}
{txt}Standard errors in parentheses
{txt}* p<0.10, ** p<0.05, *** p<0.01

{com}. 
. ****WILD BOOTSTRAP
. 
. xtset id2
{txt}{col 8}panel variable:  {res}id2 (unbalanced)
{txt}
{com}. xtreg dlogunits  i.presub2af10##ib1.treataf i.presub1af10##ib1.treataf i.sub1af10##ib1.treataf i.sub2af10##ib1.treataf i.sub3af10##ib1.treataf i.postsub1af10##ib1.treataf i.postsub2af10##ib1.treataf  mage mage2 b1-b192 , fe
{p 0 6 2}{txt}note: 0.treataf omitted because of collinearity{p_end}
{p 0 6 2}note: b169 omitted because of collinearity{p_end}
{p 0 6 2}note: b170 omitted because of collinearity{p_end}
{p 0 6 2}note: b171 omitted because of collinearity{p_end}
{p 0 6 2}note: b172 omitted because of collinearity{p_end}
{p 0 6 2}note: b173 omitted because of collinearity{p_end}
{p 0 6 2}note: b174 omitted because of collinearity{p_end}
{p 0 6 2}note: b175 omitted because of collinearity{p_end}
{p 0 6 2}note: b176 omitted because of collinearity{p_end}
{p 0 6 2}note: b177 omitted because of collinearity{p_end}
{p 0 6 2}note: b178 omitted because of collinearity{p_end}
{p 0 6 2}note: b179 omitted because of collinearity{p_end}
{p 0 6 2}note: b180 omitted because of collinearity{p_end}
{p 0 6 2}note: b181 omitted because of collinearity{p_end}
{p 0 6 2}note: b182 omitted because of collinearity{p_end}
{p 0 6 2}note: b183 omitted because of collinearity{p_end}
{p 0 6 2}note: b184 omitted because of collinearity{p_end}
{p 0 6 2}note: b185 omitted because of collinearity{p_end}
{p 0 6 2}note: b186 omitted because of collinearity{p_end}
{p 0 6 2}note: b187 omitted because of collinearity{p_end}
{p 0 6 2}note: b188 omitted because of collinearity{p_end}
{p 0 6 2}note: b189 omitted because of collinearity{p_end}
{p 0 6 2}note: b190 omitted because of collinearity{p_end}
{p 0 6 2}note: b191 omitted because of collinearity{p_end}
{p 0 6 2}note: b192 omitted because of collinearity{p_end}
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}   750,136
{txt}Group variable: {res}id2{txt}{col 49}Number of groups{col 67}={col 69}{res}   424,360

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.0109{col 63}{txt}min{col 67}={col 69}{res}         1
{txt}     between = {res}0.0121{col 63}{txt}avg{col 67}={col 69}{res}       1.8
{txt}     overall = {res}0.0121{col 63}{txt}max{col 67}={col 69}{res}         8

{txt}{col 49}F({res}184{txt},{res}325592{txt}){col 67}={col 70}{res}    19.44
{txt}corr(u_i, Xb){col 16}= {res}-0.0606{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 21}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}           dlogunits{col 22}{c |}      Coef.{col 34}   Std. Err.{col 46}      t{col 54}   P>|t|{col 62}     [95% Con{col 75}f. Interval]
{hline 21}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}1.presub2af10 {c |}{col 22}{res}{space 2}-.1085024{col 34}{space 2} .0694047{col 45}{space 1}   -1.56{col 54}{space 3}0.118{col 62}{space 4}-.2445337{col 75}{space 3} .0275289
{txt}{space 11}0.treataf {c |}{col 22}{res}{space 2}        0{col 34}{txt}  (omitted)
{space 20} {c |}
{space 1}presub2af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2} .0143121{col 34}{space 2} .0800824{col 45}{space 1}    0.18{col 54}{space 3}0.858{col 62}{space 4} -.142647{col 75}{space 3} .1712713
{txt}{space 20} {c |}
{space 7}1.presub1af10 {c |}{col 22}{res}{space 2}-.1259212{col 34}{space 2}  .069525{col 45}{space 1}   -1.81{col 54}{space 3}0.070{col 62}{space 4}-.2621881{col 75}{space 3} .0103458
{txt}{space 20} {c |}
{space 1}presub1af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2} .1773375{col 34}{space 2}    .0797{col 45}{space 1}    2.23{col 54}{space 3}0.026{col 62}{space 4} .0211279{col 75}{space 3} .3335471
{txt}{space 20} {c |}
{space 10}1.sub1af10 {c |}{col 22}{res}{space 2} .5136837{col 34}{space 2} .0664407{col 45}{space 1}    7.73{col 54}{space 3}0.000{col 62}{space 4} .3834619{col 75}{space 3} .6439055
{txt}{space 20} {c |}
{space 4}sub1af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2}-.5350606{col 34}{space 2} .0771972{col 45}{space 1}   -6.93{col 54}{space 3}0.000{col 62}{space 4}-.6863649{col 75}{space 3}-.3837563
{txt}{space 20} {c |}
{space 10}1.sub2af10 {c |}{col 22}{res}{space 2} .0965364{col 34}{space 2} .0640633{col 45}{space 1}    1.51{col 54}{space 3}0.132{col 62}{space 4}-.0290259{col 75}{space 3} .2220987
{txt}{space 20} {c |}
{space 4}sub2af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2}-.0061496{col 34}{space 2} .0758077{col 45}{space 1}   -0.08{col 54}{space 3}0.935{col 62}{space 4}-.1547305{col 75}{space 3} .1424312
{txt}{space 20} {c |}
{space 10}1.sub3af10 {c |}{col 22}{res}{space 2}-.0436188{col 34}{space 2} .0607221{col 45}{space 1}   -0.72{col 54}{space 3}0.473{col 62}{space 4}-.1626325{col 75}{space 3} .0753948
{txt}{space 20} {c |}
{space 4}sub3af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2} .0341014{col 34}{space 2} .0725793{col 45}{space 1}    0.47{col 54}{space 3}0.638{col 62}{space 4} -.108152{col 75}{space 3} .1763549
{txt}{space 20} {c |}
{space 6}1.postsub1af10 {c |}{col 22}{res}{space 2}-.1925775{col 34}{space 2} .0633467{col 45}{space 1}   -3.04{col 54}{space 3}0.002{col 62}{space 4}-.3167352{col 75}{space 3}-.0684197
{txt}{space 20} {c |}
postsub1af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2} .1553538{col 34}{space 2} .0759423{col 45}{space 1}    2.05{col 54}{space 3}0.041{col 62}{space 4} .0065091{col 75}{space 3} .3041985
{txt}{space 20} {c |}
{space 6}1.postsub2af10 {c |}{col 22}{res}{space 2}-.1447468{col 34}{space 2} .0642921{col 45}{space 1}   -2.25{col 54}{space 3}0.024{col 62}{space 4}-.2707574{col 75}{space 3}-.0187362
{txt}{space 20} {c |}
postsub2af10#treataf {c |}
{space 16}1 0  {c |}{col 22}{res}{space 2} .0126479{col 34}{space 2} .0764771{col 45}{space 1}    0.17{col 54}{space 3}0.869{col 62}{space 4}-.1372449{col 75}{space 3} .1625407
{txt}{space 20} {c |}
{space 16}mage {c |}{col 22}{res}{space 2}-.0028963{col 34}{space 2}  .000465{col 45}{space 1}   -6.23{col 54}{space 3}0.000{col 62}{space 4}-.0038076{col 75}{space 3}-.0019849
{txt}{space 15}mage2 {c |}{col 22}{res}{space 2} .0000212{col 34}{space 2} 5.18e-06{col 45}{space 1}    4.08{col 54}{space 3}0.000{col 62}{space 4}  .000011{col 75}{space 3} .0000313
{txt}{space 18}b1 {c |}{col 22}{res}{space 2} .2828116{col 34}{space 2}  .021934{col 45}{space 1}   12.89{col 54}{space 3}0.000{col 62}{space 4} .2398216{col 75}{space 3} .3258016
{txt}{space 18}b2 {c |}{col 22}{res}{space 2} .2079269{col 34}{space 2} .0525064{col 45}{space 1}    3.96{col 54}{space 3}0.000{col 62}{space 4} .1050158{col 75}{space 3}  .310838
{txt}{space 18}b3 {c |}{col 22}{res}{space 2}-.0565318{col 34}{space 2} .0224955{col 45}{space 1}   -2.51{col 54}{space 3}0.012{col 62}{space 4}-.1006224{col 75}{space 3}-.0124412
{txt}{space 18}b4 {c |}{col 22}{res}{space 2} .0366281{col 34}{space 2} .0592107{col 45}{space 1}    0.62{col 54}{space 3}0.536{col 62}{space 4}-.0794231{col 75}{space 3} .1526793
{txt}{space 18}b5 {c |}{col 22}{res}{space 2} .0042769{col 34}{space 2} .0223608{col 45}{space 1}    0.19{col 54}{space 3}0.848{col 62}{space 4}-.0395497{col 75}{space 3} .0481034
{txt}{space 18}b6 {c |}{col 22}{res}{space 2} .0112206{col 34}{space 2} .0583912{col 45}{space 1}    0.19{col 54}{space 3}0.848{col 62}{space 4}-.1032244{col 75}{space 3} .1256656
{txt}{space 18}b7 {c |}{col 22}{res}{space 2} -.059682{col 34}{space 2} .0219401{col 45}{space 1}   -2.72{col 54}{space 3}0.007{col 62}{space 4}-.1026839{col 75}{space 3}-.0166801
{txt}{space 18}b8 {c |}{col 22}{res}{space 2}-.0372788{col 34}{space 2} .0578311{col 45}{space 1}   -0.64{col 54}{space 3}0.519{col 62}{space 4}-.1506261{col 75}{space 3} .0760686
{txt}{space 18}b9 {c |}{col 22}{res}{space 2} .0975937{col 34}{space 2} .0217563{col 45}{space 1}    4.49{col 54}{space 3}0.000{col 62}{space 4}  .054952{col 75}{space 3} .1402354
{txt}{space 17}b10 {c |}{col 22}{res}{space 2}  .169703{col 34}{space 2} .0567949{col 45}{space 1}    2.99{col 54}{space 3}0.003{col 62}{space 4} .0583866{col 75}{space 3} .2810193
{txt}{space 17}b11 {c |}{col 22}{res}{space 2}-.1761732{col 34}{space 2}  .020568{col 45}{space 1}   -8.57{col 54}{space 3}0.000{col 62}{space 4}-.2164859{col 75}{space 3}-.1358606
{txt}{space 17}b12 {c |}{col 22}{res}{space 2} -.127398{col 34}{space 2} .0522559{col 45}{space 1}   -2.44{col 54}{space 3}0.015{col 62}{space 4}-.2298181{col 75}{space 3} -.024978
{txt}{space 17}b13 {c |}{col 22}{res}{space 2} .1816385{col 34}{space 2} .0203516{col 45}{space 1}    8.93{col 54}{space 3}0.000{col 62}{space 4} .1417499{col 75}{space 3}  .221527
{txt}{space 17}b14 {c |}{col 22}{res}{space 2} .1179099{col 34}{space 2} .0501719{col 45}{space 1}    2.35{col 54}{space 3}0.019{col 62}{space 4} .0195745{col 75}{space 3} .2162453
{txt}{space 17}b15 {c |}{col 22}{res}{space 2} -.113184{col 34}{space 2} .0196674{col 45}{space 1}   -5.75{col 54}{space 3}0.000{col 62}{space 4}-.1517317{col 75}{space 3}-.0746364
{txt}{space 17}b16 {c |}{col 22}{res}{space 2}-.0618519{col 34}{space 2}  .048885{col 45}{space 1}   -1.27{col 54}{space 3}0.206{col 62}{space 4} -.157665{col 75}{space 3} .0339612
{txt}{space 17}b17 {c |}{col 22}{res}{space 2} .0018178{col 34}{space 2} .0202964{col 45}{space 1}    0.09{col 54}{space 3}0.929{col 62}{space 4}-.0379626{col 75}{space 3} .0415982
{txt}{space 17}b18 {c |}{col 22}{res}{space 2} -.036447{col 34}{space 2} .0488625{col 45}{space 1}   -0.75{col 54}{space 3}0.456{col 62}{space 4}-.1322161{col 75}{space 3} .0593222
{txt}{space 17}b19 {c |}{col 22}{res}{space 2} .1420502{col 34}{space 2} .0203467{col 45}{space 1}    6.98{col 54}{space 3}0.000{col 62}{space 4} .1021711{col 75}{space 3} .1819292
{txt}{space 17}b20 {c |}{col 22}{res}{space 2}  .156378{col 34}{space 2}  .048306{col 45}{space 1}    3.24{col 54}{space 3}0.001{col 62}{space 4} .0616996{col 75}{space 3} .2510564
{txt}{space 17}b21 {c |}{col 22}{res}{space 2}-.0405925{col 34}{space 2} .0211029{col 45}{space 1}   -1.92{col 54}{space 3}0.054{col 62}{space 4}-.0819535{col 75}{space 3} .0007685
{txt}{space 17}b22 {c |}{col 22}{res}{space 2}-.0255744{col 34}{space 2} .0493013{col 45}{space 1}   -0.52{col 54}{space 3}0.604{col 62}{space 4}-.1222035{col 75}{space 3} .0710547
{txt}{space 17}b23 {c |}{col 22}{res}{space 2}-.2091362{col 34}{space 2} .0211694{col 45}{space 1}   -9.88{col 54}{space 3}0.000{col 62}{space 4}-.2506276{col 75}{space 3}-.1676448
{txt}{space 17}b24 {c |}{col 22}{res}{space 2}-.2173581{col 34}{space 2}  .050003{col 45}{space 1}   -4.35{col 54}{space 3}0.000{col 62}{space 4}-.3153625{col 75}{space 3}-.1193537
{txt}{space 17}b25 {c |}{col 22}{res}{space 2} .0839176{col 34}{space 2} .0225174{col 45}{space 1}    3.73{col 54}{space 3}0.000{col 62}{space 4} .0397841{col 75}{space 3} .1280512
{txt}{space 17}b26 {c |}{col 22}{res}{space 2} .0691749{col 34}{space 2} .0725326{col 45}{space 1}    0.95{col 54}{space 3}0.340{col 62}{space 4}-.0729869{col 75}{space 3} .2113366
{txt}{space 17}b27 {c |}{col 22}{res}{space 2} .0801574{col 34}{space 2}  .023524{col 45}{space 1}    3.41{col 54}{space 3}0.001{col 62}{space 4}  .034051{col 75}{space 3} .1262639
{txt}{space 17}b28 {c |}{col 22}{res}{space 2} .0810657{col 34}{space 2} .0865176{col 45}{space 1}    0.94{col 54}{space 3}0.349{col 62}{space 4}-.0885064{col 75}{space 3} .2506378
{txt}{space 17}b29 {c |}{col 22}{res}{space 2} .0279782{col 34}{space 2} .0234507{col 45}{space 1}    1.19{col 54}{space 3}0.233{col 62}{space 4}-.0179845{col 75}{space 3} .0739408
{txt}{space 17}b30 {c |}{col 22}{res}{space 2} .1966773{col 34}{space 2} .0859167{col 45}{space 1}    2.29{col 54}{space 3}0.022{col 62}{space 4}  .028283{col 75}{space 3} .3650716
{txt}{space 17}b31 {c |}{col 22}{res}{space 2} .0266804{col 34}{space 2} .0226594{col 45}{space 1}    1.18{col 54}{space 3}0.239{col 62}{space 4}-.0177313{col 75}{space 3} .0710921
{txt}{space 17}b32 {c |}{col 22}{res}{space 2} .0107546{col 34}{space 2} .0826221{col 45}{space 1}    0.13{col 54}{space 3}0.896{col 62}{space 4}-.1511822{col 75}{space 3} .1726914
{txt}{space 17}b33 {c |}{col 22}{res}{space 2} .0324319{col 34}{space 2} .0224777{col 45}{space 1}    1.44{col 54}{space 3}0.149{col 62}{space 4}-.0116236{col 75}{space 3} .0764875
{txt}{space 17}b34 {c |}{col 22}{res}{space 2} .2259142{col 34}{space 2} .0803093{col 45}{space 1}    2.81{col 54}{space 3}0.005{col 62}{space 4} .0685102{col 75}{space 3} .3833182
{txt}{space 17}b35 {c |}{col 22}{res}{space 2}-.0339612{col 34}{space 2} .0212242{col 45}{space 1}   -1.60{col 54}{space 3}0.110{col 62}{space 4}-.0755601{col 75}{space 3} .0076377
{txt}{space 17}b36 {c |}{col 22}{res}{space 2}-.0351852{col 34}{space 2} .0733258{col 45}{space 1}   -0.48{col 54}{space 3}0.631{col 62}{space 4}-.1789017{col 75}{space 3} .1085313
{txt}{space 17}b37 {c |}{col 22}{res}{space 2} .0077045{col 34}{space 2} .0205466{col 45}{space 1}    0.37{col 54}{space 3}0.708{col 62}{space 4}-.0325662{col 75}{space 3} .0479753
{txt}{space 17}b38 {c |}{col 22}{res}{space 2}-.0972101{col 34}{space 2}  .068153{col 45}{space 1}   -1.43{col 54}{space 3}0.154{col 62}{space 4}-.2307881{col 75}{space 3} .0363679
{txt}{space 17}b39 {c |}{col 22}{res}{space 2}-.0556431{col 34}{space 2} .0201285{col 45}{space 1}   -2.76{col 54}{space 3}0.006{col 62}{space 4}-.0950943{col 75}{space 3}-.0161918
{txt}{space 17}b40 {c |}{col 22}{res}{space 2}-.0096371{col 34}{space 2} .0652916{col 45}{space 1}   -0.15{col 54}{space 3}0.883{col 62}{space 4}-.1376068{col 75}{space 3} .1183327
{txt}{space 17}b41 {c |}{col 22}{res}{space 2} .0743144{col 34}{space 2} .0208406{col 45}{space 1}    3.57{col 54}{space 3}0.000{col 62}{space 4} .0334674{col 75}{space 3} .1151614
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{txt}{space 16}b143 {c |}{col 22}{res}{space 2} .0413292{col 34}{space 2} .0196455{col 45}{space 1}    2.10{col 54}{space 3}0.035{col 62}{space 4} .0028246{col 75}{space 3} .0798339
{txt}{space 16}b144 {c |}{col 22}{res}{space 2}-.0047989{col 34}{space 2} .0529006{col 45}{space 1}   -0.09{col 54}{space 3}0.928{col 62}{space 4}-.1084825{col 75}{space 3} .0988847
{txt}{space 16}b145 {c |}{col 22}{res}{space 2}  .028046{col 34}{space 2} .0288919{col 45}{space 1}    0.97{col 54}{space 3}0.332{col 62}{space 4}-.0285812{col 75}{space 3} .0846732
{txt}{space 16}b146 {c |}{col 22}{res}{space 2} .0693353{col 34}{space 2} .0852308{col 45}{space 1}    0.81{col 54}{space 3}0.416{col 62}{space 4}-.0977147{col 75}{space 3} .2363853
{txt}{space 16}b147 {c |}{col 22}{res}{space 2} .0284079{col 34}{space 2} .0295958{col 45}{space 1}    0.96{col 54}{space 3}0.337{col 62}{space 4} -.029599{col 75}{space 3} .0864149
{txt}{space 16}b148 {c |}{col 22}{res}{space 2} .1579426{col 34}{space 2} .1016079{col 45}{space 1}    1.55{col 54}{space 3}0.120{col 62}{space 4}-.0412059{col 75}{space 3} .3570912
{txt}{space 16}b149 {c |}{col 22}{res}{space 2} .0401382{col 34}{space 2}  .029467{col 45}{space 1}    1.36{col 54}{space 3}0.173{col 62}{space 4}-.0176162{col 75}{space 3} .0978926
{txt}{space 16}b150 {c |}{col 22}{res}{space 2}-.0037447{col 34}{space 2} .1029704{col 45}{space 1}   -0.04{col 54}{space 3}0.971{col 62}{space 4}-.2055636{col 75}{space 3} .1980743
{txt}{space 16}b151 {c |}{col 22}{res}{space 2}-.0181095{col 34}{space 2} .0284153{col 45}{space 1}   -0.64{col 54}{space 3}0.524{col 62}{space 4}-.0738027{col 75}{space 3} .0375836
{txt}{space 16}b152 {c |}{col 22}{res}{space 2}-.0157555{col 34}{space 2} .1034324{col 45}{space 1}   -0.15{col 54}{space 3}0.879{col 62}{space 4}-.2184801{col 75}{space 3} .1869691
{txt}{space 16}b153 {c |}{col 22}{res}{space 2}-.0072602{col 34}{space 2} .0284747{col 45}{space 1}   -0.25{col 54}{space 3}0.799{col 62}{space 4}-.0630698{col 75}{space 3} .0485493
{txt}{space 16}b154 {c |}{col 22}{res}{space 2} .1354131{col 34}{space 2} .0990529{col 45}{space 1}    1.37{col 54}{space 3}0.172{col 62}{space 4}-.0587277{col 75}{space 3} .3295539
{txt}{space 16}b155 {c |}{col 22}{res}{space 2}  -.03303{col 34}{space 2} .0269139{col 45}{space 1}   -1.23{col 54}{space 3}0.220{col 62}{space 4}-.0857804{col 75}{space 3} .0197204
{txt}{space 16}b156 {c |}{col 22}{res}{space 2} .0005787{col 34}{space 2} .0992988{col 45}{space 1}    0.01{col 54}{space 3}0.995{col 62}{space 4} -.194044{col 75}{space 3} .1952014
{txt}{space 16}b157 {c |}{col 22}{res}{space 2}-.1048616{col 34}{space 2} .0264353{col 45}{space 1}   -3.97{col 54}{space 3}0.000{col 62}{space 4}-.1566739{col 75}{space 3}-.0530492
{txt}{space 16}b158 {c |}{col 22}{res}{space 2} -.136289{col 34}{space 2} .0847513{col 45}{space 1}   -1.61{col 54}{space 3}0.108{col 62}{space 4}-.3023992{col 75}{space 3} .0298211
{txt}{space 16}b159 {c |}{col 22}{res}{space 2} .1133787{col 34}{space 2} .0259209{col 45}{space 1}    4.37{col 54}{space 3}0.000{col 62}{space 4} .0625745{col 75}{space 3} .1641828
{txt}{space 16}b160 {c |}{col 22}{res}{space 2} .0934579{col 34}{space 2} .0805778{col 45}{space 1}    1.16{col 54}{space 3}0.246{col 62}{space 4}-.0644722{col 75}{space 3}  .251388
{txt}{space 16}b161 {c |}{col 22}{res}{space 2} .0785537{col 34}{space 2} .0266825{col 45}{space 1}    2.94{col 54}{space 3}0.003{col 62}{space 4} .0262567{col 75}{space 3} .1308506
{txt}{space 16}b162 {c |}{col 22}{res}{space 2}-.1064721{col 34}{space 2} .0788915{col 45}{space 1}   -1.35{col 54}{space 3}0.177{col 62}{space 4}-.2610972{col 75}{space 3}  .048153
{txt}{space 16}b163 {c |}{col 22}{res}{space 2} .0943084{col 34}{space 2} .0269404{col 45}{space 1}    3.50{col 54}{space 3}0.000{col 62}{space 4}  .041506{col 75}{space 3} .1471109
{txt}{space 16}b164 {c |}{col 22}{res}{space 2} .2137284{col 34}{space 2} .0816105{col 45}{space 1}    2.62{col 54}{space 3}0.009{col 62}{space 4} .0537742{col 75}{space 3} .3736827
{txt}{space 16}b165 {c |}{col 22}{res}{space 2} .0860091{col 34}{space 2} .0278666{col 45}{space 1}    3.09{col 54}{space 3}0.002{col 62}{space 4} .0313913{col 75}{space 3} .1406268
{txt}{space 16}b166 {c |}{col 22}{res}{space 2} .0048387{col 34}{space 2} .0826405{col 45}{space 1}    0.06{col 54}{space 3}0.953{col 62}{space 4}-.1571343{col 75}{space 3} .1668118
{txt}{space 16}b167 {c |}{col 22}{res}{space 2}-.0538024{col 34}{space 2}  .027755{col 45}{space 1}   -1.94{col 54}{space 3}0.053{col 62}{space 4}-.1082015{col 75}{space 3} .0005966
{txt}{space 16}b168 {c |}{col 22}{res}{space 2}-.0117225{col 34}{space 2} .0823606{col 45}{space 1}   -0.14{col 54}{space 3}0.887{col 62}{space 4}-.1731469{col 75}{space 3} .1497018
{txt}{space 16}b169 {c |}{col 22}{res}{space 2}        0{col 34}{txt}  (omitted)
{space 16}b170 {c |}{col 22}{res}{space 2}        0{col 34}{txt}  (omitted)
{space 16}b171 {c |}{col 22}{res}{space 2}        0{col 34}{txt}  (omitted)
{space 16}b172 {c |}{col 22}{res}{space 2}        0{col 34}{txt}  (omitted)
{space 16}b173 {c |}{col 22}{res}{space 2}        0{col 34}{txt}  (omitted)
{space 16}b174 {c |}{col 22}{res}{space 2}        0{col 34}{txt}  (omitted)
{space 16}b175 {c |}{col 22}{res}{space 2}        0{col 34}{txt}  (omitted)
{space 16}b176 {c |}{col 22}{res}{space 2}        0{col 34}{txt}  (omitted)
{space 16}b177 {c |}{col 22}{res}{space 2}        0{col 34}{txt}  (omitted)
{space 16}b178 {c |}{col 22}{res}{space 2}        0{col 34}{txt}  (omitted)
{space 16}b179 {c |}{col 22}{res}{space 2}        0{col 34}{txt}  (omitted)
{space 16}b180 {c |}{col 22}{res}{space 2}        0{col 34}{txt}  (omitted)
{space 16}b181 {c |}{col 22}{res}{space 2}        0{col 34}{txt}  (omitted)
{space 16}b182 {c |}{col 22}{res}{space 2}        0{col 34}{txt}  (omitted)
{space 16}b183 {c |}{col 22}{res}{space 2}        0{col 34}{txt}  (omitted)
{space 16}b184 {c |}{col 22}{res}{space 2}        0{col 34}{txt}  (omitted)
{space 16}b185 {c |}{col 22}{res}{space 2}        0{col 34}{txt}  (omitted)
{space 16}b186 {c |}{col 22}{res}{space 2}        0{col 34}{txt}  (omitted)
{space 16}b187 {c |}{col 22}{res}{space 2}        0{col 34}{txt}  (omitted)
{space 16}b188 {c |}{col 22}{res}{space 2}        0{col 34}{txt}  (omitted)
{space 16}b189 {c |}{col 22}{res}{space 2}        0{col 34}{txt}  (omitted)
{space 16}b190 {c |}{col 22}{res}{space 2}        0{col 34}{txt}  (omitted)
{space 16}b191 {c |}{col 22}{res}{space 2}        0{col 34}{txt}  (omitted)
{space 16}b192 {c |}{col 22}{res}{space 2}        0{col 34}{txt}  (omitted)
{space 15}_cons {c |}{col 22}{res}{space 2} .0385076{col 34}{space 2} .0091497{col 45}{space 1}    4.21{col 54}{space 3}0.000{col 62}{space 4} .0205744{col 75}{space 3} .0564408
{txt}{hline 21}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
             sigma_u {c |} {res} .69833267
             {txt}sigma_e {c |} {res} .69550138
                 {txt}rho {c |} {res} .50203129{txt}   (fraction of variance due to u_i)
{hline 21}{c BT}{hline 64}
F test that all u_i=0: F({res}424359{txt}, {res}325592{txt}) = {res}1.31{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}. 
. set seed 210721054
{txt}
{com}. 
. *Wild bootstrap, country cluster, restricted
.                 boottest        {c -(}1.presub2af10{c )-} {c -(}1.presub1af10{c )-} {c -(}1.sub1af10{c )-} {c -(}1.sub2af10{c )-} {c -(}1.sub3af10{c )-}  {c -(}1.postsub1af10{c )-} {c -(}1.postsub2af10{c )-} , cluster(country) nograph  reps (999999) weight (webb)
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(country)
{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.presub2af10

{txt}{col 41}t(7) = {res}   -1.8708
{col 37}{txt}Prob>|t| = {res}    0.5154

95%{txt} confidence set for null hypothesis expression: [{res}-1.635{txt}, {res}1.112{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.presub1af10

{txt}{col 41}t(7) = {res}   -6.1811
{col 37}{txt}Prob>|t| = {res}    0.2307

95%{txt} confidence set for null hypothesis expression: [{res}-.4554{txt}, {res}.2706{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.sub1af10

{txt}{col 41}t(7) = {res}   21.1897
{col 37}{txt}Prob>|t| = {res}    0.0947

95%{txt} confidence set for null hypothesis expression: [{res}-.1597{txt}, {res}1.199{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.sub2af10

{txt}{col 41}t(7) = {res}    4.0294
{col 37}{txt}Prob>|t| = {res}    0.1750

95%{txt} confidence set for null hypothesis expression: [{res}-.4409{txt}, {res}.7718{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.sub3af10

{txt}{col 41}t(7) = {res}   -1.3217
{col 37}{txt}Prob>|t| = {res}    0.3471

95%{txt} confidence set for null hypothesis expression: [{res}-.8424{txt}, {res}.3751{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.postsub1af10

{txt}{col 41}t(7) = {res}   -3.3113
{col 37}{txt}Prob>|t| = {res}    0.4606

95%{txt} confidence set for null hypothesis expression: [{res}-1.086{txt}, {res}1.366{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.postsub2af10

{txt}{col 41}t(7) = {res}   -5.0916
{col 37}{txt}Prob>|t| = {res}    0.1928

95%{txt} confidence set for null hypothesis expression: [{res}-.6041{txt}, {res}.6315{txt}]
{res}{txt}
{com}. *Wild bootstrap, country cluster, unrestricted
.                 boottest        {c -(}1.presub2af10{c )-} {c -(}1.presub1af10{c )-} {c -(}1.sub1af10{c )-} {c -(}1.sub2af10{c )-} {c -(}1.sub3af10{c )-}  {c -(}1.postsub1af10{c )-} {c -(}1.postsub2af10{c )-} , cluster(country) nograph  reps (999999) weight (webb) nonull        
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(country)
{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.presub2af10

{txt}{col 41}t(7) = {res}   -1.8708
{col 37}{txt}Prob>|t| = {res}    0.2547

95%{txt} confidence set for null hypothesis expression: [{res}-.294{txt}, {res}.07699{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.presub1af10

{txt}{col 41}t(7) = {res}   -6.1811
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}-.1897{txt}, {res}-.06216{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.sub1af10

{txt}{col 41}t(7) = {res}   21.1897
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}.4784{txt}, {res}.549{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.sub2af10

{txt}{col 41}t(7) = {res}    4.0294
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}.05596{txt}, {res}.1371{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.sub3af10

{txt}{col 41}t(7) = {res}   -1.3217
{col 37}{txt}Prob>|t| = {res}    0.0551

95%{txt} confidence set for null hypothesis expression: [{res}-.08791{txt}, {res}.0006699{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.postsub1af10

{txt}{col 41}t(7) = {res}   -3.3113
{col 37}{txt}Prob>|t| = {res}    0.1011

95%{txt} confidence set for null hypothesis expression: [{res}-.4381{txt}, {res}.05293{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.postsub2af10

{txt}{col 41}t(7) = {res}   -5.0916
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}-.1742{txt}, {res}-.1153{txt}]
{res}{txt}
{com}. *Wild bootstrap, country-date cluster, restricted
.                 boottest        {c -(}1.presub2af10{c )-} {c -(}1.presub1af10{c )-} {c -(}1.sub1af10{c )-} {c -(}1.sub2af10{c )-} {c -(}1.sub3af10{c )-}  {c -(}1.postsub1af10{c )-} {c -(}1.postsub2af10{c )-} , cluster(cd)            nograph  noci
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(cd)

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.presub2af10

{txt}{col 38}t(1199) = {res}   -1.8232
{col 37}{txt}Prob>|t| = {res}    0.5205

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.presub1af10

{txt}{col 38}t(1199) = {res}   -5.0586
{col 37}{txt}Prob>|t| = {res}    0.2613

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.sub1af10

{txt}{col 38}t(1199) = {res}   10.4342
{col 37}{txt}Prob>|t| = {res}    0.2132

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.sub2af10

{txt}{col 38}t(1199) = {res}    2.5586
{col 37}{txt}Prob>|t| = {res}    0.2523

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.sub3af10

{txt}{col 38}t(1199) = {res}   -1.1887
{col 37}{txt}Prob>|t| = {res}    0.3804

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.postsub1af10

{txt}{col 38}t(1199) = {res}   -3.4804
{col 37}{txt}Prob>|t| = {res}    0.4074

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.postsub2af10

{txt}{col 38}t(1199) = {res}   -3.8824
{col 37}{txt}Prob>|t| = {res}    0.2723
{txt}
{com}. *Wild bootstrap, country-date cluster, unrestricted
.                 boottest        {c -(}1.presub2af10{c )-} {c -(}1.presub1af10{c )-} {c -(}1.sub1af10{c )-} {c -(}1.sub2af10{c )-} {c -(}1.sub3af10{c )-}  {c -(}1.postsub1af10{c )-} {c -(}1.postsub2af10{c )-} , cluster(cd)            nograph                                                      nonull  
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(cd)
{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.presub2af10

{txt}{col 38}t(1199) = {res}   -1.8232
{col 37}{txt}Prob>|t| = {res}    0.2523

95%{txt} confidence set for null hypothesis expression: [{res}-.2881{txt}, {res}.0714{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.presub1af10

{txt}{col 38}t(1199) = {res}   -5.0586
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}-.1697{txt}, {res}-.08208{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.sub1af10

{txt}{col 38}t(1199) = {res}   10.4342
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}.4362{txt}, {res}.5913{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.sub2af10

{txt}{col 38}t(1199) = {res}    2.5586
{col 37}{txt}Prob>|t| = {res}    0.0230

95%{txt} confidence set for null hypothesis expression: [{res}.01125{txt}, {res}.1818{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.sub3af10

{txt}{col 38}t(1199) = {res}   -1.1887
{col 37}{txt}Prob>|t| = {res}    0.1431

95%{txt} confidence set for null hypothesis expression: [{res}-.0994{txt}, {res}.01219{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.postsub1af10

{txt}{col 38}t(1199) = {res}   -3.4804
{col 37}{txt}Prob>|t| = {res}    0.0330

95%{txt} confidence set for null hypothesis expression: [{res}-.3675{txt}, {res}-.01747{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.postsub2af10

{txt}{col 38}t(1199) = {res}   -3.8824
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}-.2076{txt}, {res}-.08191{txt}]
{res}{txt}
{com}. *Subcluster bootstrap by product, restricted
.                 boottest        {c -(}1.presub2af10{c )-} {c -(}1.presub1af10{c )-} {c -(}1.sub1af10{c )-} {c -(}1.sub2af10{c )-} {c -(}1.sub3af10{c )-}  {c -(}1.postsub1af10{c )-} {c -(}1.postsub2af10{c )-} , cluster(id)            nograph
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(id)
{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.presub2af10

{txt}{col 37}t(15688) = {res}   -0.9002
{col 37}{txt}Prob>|t| = {res}    0.1812

95%{txt} confidence set for null hypothesis expression: [{res}-.2695{txt}, {res}.04983{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.presub1af10

{txt}{col 37}t(15688) = {res}   -0.9706
{col 37}{txt}Prob>|t| = {res}    0.1441

95%{txt} confidence set for null hypothesis expression: [{res}-.2898{txt}, {res}.04274{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.sub1af10

{txt}{col 37}t(15688) = {res}    4.3302
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}.3603{txt}, {res}.6685{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.sub2af10

{txt}{col 37}t(15688) = {res}    0.8377
{col 37}{txt}Prob>|t| = {res}    0.2212

95%{txt} confidence set for null hypothesis expression: [{res}-.05391{txt}, {res}.2454{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.sub3af10

{txt}{col 37}t(15688) = {res}   -0.4351
{col 37}{txt}Prob>|t| = {res}    0.5225

95%{txt} confidence set for null hypothesis expression: [{res}-.1717{txt}, {res}.07858{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.postsub1af10

{txt}{col 37}t(15688) = {res}   -1.8234
{col 37}{txt}Prob>|t| = {res}    0.0030

95%{txt} confidence set for null hypothesis expression: [{res}-.327{txt}, {res}-.05424{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.postsub2af10

{txt}{col 37}t(15688) = {res}   -1.6114
{col 37}{txt}Prob>|t| = {res}    0.0130

95%{txt} confidence set for null hypothesis expression: [{res}-.2582{txt}, {res}-.03181{txt}]
{res}{txt}
{com}. *Subcluster bootstrap by product, unrestricted
.                 boottest        {c -(}1.presub2af10{c )-} {c -(}1.presub1af10{c )-} {c -(}1.sub1af10{c )-} {c -(}1.sub2af10{c )-} {c -(}1.sub3af10{c )-}  {c -(}1.postsub1af10{c )-} {c -(}1.postsub2af10{c )-} , cluster(id)            nograph                                                              nonull
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(id)
{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.presub2af10

{txt}{col 37}t(15688) = {res}   -0.9002
{col 37}{txt}Prob>|t| = {res}    0.1632

95%{txt} confidence set for null hypothesis expression: [{res}-.2723{txt}, {res}.05525{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.presub1af10

{txt}{col 37}t(15688) = {res}   -0.9706
{col 37}{txt}Prob>|t| = {res}    0.1542

95%{txt} confidence set for null hypothesis expression: [{res}-.292{txt}, {res}.04016{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.sub1af10

{txt}{col 37}t(15688) = {res}    4.3302
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}.3564{txt}, {res}.6711{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.sub2af10

{txt}{col 37}t(15688) = {res}    0.8377
{col 37}{txt}Prob>|t| = {res}    0.1862

95%{txt} confidence set for null hypothesis expression: [{res}-.05112{txt}, {res}.2442{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.sub3af10

{txt}{col 37}t(15688) = {res}   -0.4351
{col 37}{txt}Prob>|t| = {res}    0.5075

95%{txt} confidence set for null hypothesis expression: [{res}-.174{txt}, {res}.08697{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.postsub1af10

{txt}{col 37}t(15688) = {res}   -1.8234
{col 37}{txt}Prob>|t| = {res}    0.0080

95%{txt} confidence set for null hypothesis expression: [{res}-.3325{txt}, {res}-.05283{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.postsub2af10

{txt}{col 37}t(15688) = {res}   -1.6114
{col 37}{txt}Prob>|t| = {res}    0.0140

95%{txt} confidence set for null hypothesis expression: [{res}-.259{txt}, {res}-.03059{txt}]
{res}{txt}
{com}. *Subcluster bootstrap by country-product, restricted
.                 boottest        {c -(}1.presub2af10{c )-} {c -(}1.presub1af10{c )-} {c -(}1.sub1af10{c )-} {c -(}1.sub2af10{c )-} {c -(}1.sub3af10{c )-}  {c -(}1.postsub1af10{c )-} {c -(}1.postsub2af10{c )-} , cluster(id1)           nograph  noci
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(id1)

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.presub2af10

{txt}{col 37}t(37894) = {res}   -1.2046
{col 37}{txt}Prob>|t| = {res}    0.1702

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.presub1af10

{txt}{col 37}t(37894) = {res}   -1.3060
{col 37}{txt}Prob>|t| = {res}    0.1341

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.sub1af10

{txt}{col 37}t(37894) = {res}    5.8666
{col 37}{txt}Prob>|t| = {res}    0.0000

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.sub2af10

{txt}{col 37}t(37894) = {res}    1.1380
{col 37}{txt}Prob>|t| = {res}    0.1812

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.sub3af10

{txt}{col 37}t(37894) = {res}   -0.5926
{col 37}{txt}Prob>|t| = {res}    0.5075

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.postsub1af10

{txt}{col 37}t(37894) = {res}   -2.4869
{col 37}{txt}Prob>|t| = {res}    0.0080

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.postsub2af10

{txt}{col 37}t(37894) = {res}   -2.1253
{col 37}{txt}Prob>|t| = {res}    0.0130
{txt}
{com}. *Subcluster bootstrap by country-product, unrestricted
.                 boottest        {c -(}1.presub2af10{c )-} {c -(}1.presub1af10{c )-} {c -(}1.sub1af10{c )-} {c -(}1.sub2af10{c )-} {c -(}1.sub3af10{c )-}  {c -(}1.postsub1af10{c )-} {c -(}1.postsub2af10{c )-} , cluster(id1)           nograph                                                              nonull
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(id1)
{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.presub2af10

{txt}{col 37}t(37894) = {res}   -1.2046
{col 37}{txt}Prob>|t| = {res}    0.1652

95%{txt} confidence set for null hypothesis expression: [{res}-.261{txt}, {res}.04382{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.presub1af10

{txt}{col 37}t(37894) = {res}   -1.3060
{col 37}{txt}Prob>|t| = {res}    0.1241

95%{txt} confidence set for null hypothesis expression: [{res}-.2859{txt}, {res}.03399{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.sub1af10

{txt}{col 37}t(37894) = {res}    5.8666
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}.3622{txt}, {res}.6655{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.sub2af10

{txt}{col 37}t(37894) = {res}    1.1380
{col 37}{txt}Prob>|t| = {res}    0.1902

95%{txt} confidence set for null hypothesis expression: [{res}-.052{txt}, {res}.2448{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.sub3af10

{txt}{col 37}t(37894) = {res}   -0.5926
{col 37}{txt}Prob>|t| = {res}    0.4975

95%{txt} confidence set for null hypothesis expression: [{res}-.1725{txt}, {res}.0854{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.postsub1af10

{txt}{col 37}t(37894) = {res}   -2.4869
{col 37}{txt}Prob>|t| = {res}    0.0070

95%{txt} confidence set for null hypothesis expression: [{res}-.3285{txt}, {res}-.05699{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.postsub2af10

{txt}{col 37}t(37894) = {res}   -2.1253
{col 37}{txt}Prob>|t| = {res}    0.0120

95%{txt} confidence set for null hypothesis expression: [{res}-.2596{txt}, {res}-.02992{txt}]
{res}{txt}
{com}. 
.                 
. restore
{txt}
{com}. 
. *+++++++++++++++++++
. *+  AT, 2010, WM  ++    
. *++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
. preserve
{txt}
{com}. 
. egen cmt=group(country month treata)
{txt}(1740985 missing values generated)

{com}. tabulate cmt, gen(b)

{txt}group(count {c |}
   ry month {c |}
    treata) {c |}      Freq.     Percent        Cum.
{hline 12}{c +}{hline 35}
          1 {c |}{res}     10,730        1.39        1.39
{txt}          2 {c |}{res}        434        0.06        1.45
{txt}          3 {c |}{res}     10,121        1.31        2.76
{txt}          4 {c |}{res}        434        0.06        2.81
{txt}          5 {c |}{res}     10,121        1.31        4.12
{txt}          6 {c |}{res}        434        0.06        4.18
{txt}          7 {c |}{res}     10,121        1.31        5.49
{txt}          8 {c |}{res}        434        0.06        5.55
{txt}          9 {c |}{res}     10,121        1.31        6.86
{txt}         10 {c |}{res}        434        0.06        6.91
{txt}         11 {c |}{res}     10,121        1.31        8.22
{txt}         12 {c |}{res}        434        0.06        8.28
{txt}         13 {c |}{res}     10,121        1.31        9.59
{txt}         14 {c |}{res}        434        0.06        9.64
{txt}         15 {c |}{res}     10,121        1.31       10.96
{txt}         16 {c |}{res}        434        0.06       11.01
{txt}         17 {c |}{res}     10,121        1.31       12.32
{txt}         18 {c |}{res}        434        0.06       12.38
{txt}         19 {c |}{res}     10,121        1.31       13.69
{txt}         20 {c |}{res}        434        0.06       13.74
{txt}         21 {c |}{res}     10,121        1.31       15.05
{txt}         22 {c |}{res}        434        0.06       15.11
{txt}         23 {c |}{res}     10,121        1.31       16.42
{txt}         24 {c |}{res}        434        0.06       16.48
{txt}         25 {c |}{res}      5,912        0.77       17.24
{txt}         26 {c |}{res}         16        0.00       17.25
{txt}         27 {c |}{res}      5,632        0.73       17.97
{txt}         28 {c |}{res}         16        0.00       17.98
{txt}         29 {c |}{res}      5,632        0.73       18.71
{txt}         30 {c |}{res}         16        0.00       18.71
{txt}         31 {c |}{res}      5,632        0.73       19.44
{txt}         32 {c |}{res}         16        0.00       19.44
{txt}         33 {c |}{res}      5,632        0.73       20.17
{txt}         34 {c |}{res}         16        0.00       20.17
{txt}         35 {c |}{res}      5,632        0.73       20.90
{txt}         36 {c |}{res}         16        0.00       20.90
{txt}         37 {c |}{res}      5,632        0.73       21.63
{txt}         38 {c |}{res}         16        0.00       21.63
{txt}         39 {c |}{res}      5,632        0.73       22.36
{txt}         40 {c |}{res}         16        0.00       22.36
{txt}         41 {c |}{res}      5,632        0.73       23.09
{txt}         42 {c |}{res}         16        0.00       23.10
{txt}         43 {c |}{res}      5,632        0.73       23.82
{txt}         44 {c |}{res}         16        0.00       23.83
{txt}         45 {c |}{res}      5,632        0.73       24.56
{txt}         46 {c |}{res}         16        0.00       24.56
{txt}         47 {c |}{res}      5,632        0.73       25.29
{txt}         48 {c |}{res}         16        0.00       25.29
{txt}         49 {c |}{res}     11,605        1.50       26.79
{txt}         50 {c |}{res}     11,160        1.44       28.24
{txt}         51 {c |}{res}     11,160        1.44       29.68
{txt}         52 {c |}{res}     11,160        1.44       31.13
{txt}         53 {c |}{res}     11,160        1.44       32.57
{txt}         54 {c |}{res}     11,160        1.44       34.02
{txt}         55 {c |}{res}     11,160        1.44       35.46
{txt}         56 {c |}{res}     11,160        1.44       36.91
{txt}         57 {c |}{res}     11,160        1.44       38.35
{txt}         58 {c |}{res}     11,160        1.44       39.80
{txt}         59 {c |}{res}     11,160        1.44       41.24
{txt}         60 {c |}{res}     11,160        1.44       42.69
{txt}         61 {c |}{res}     11,570        1.50       44.18
{txt}         62 {c |}{res}     10,966        1.42       45.60
{txt}         63 {c |}{res}     10,966        1.42       47.02
{txt}         64 {c |}{res}     10,966        1.42       48.44
{txt}         65 {c |}{res}     10,966        1.42       49.86
{txt}         66 {c |}{res}     10,966        1.42       51.28
{txt}         67 {c |}{res}     10,966        1.42       52.70
{txt}         68 {c |}{res}     10,966        1.42       54.12
{txt}         69 {c |}{res}     10,966        1.42       55.54
{txt}         70 {c |}{res}     10,966        1.42       56.96
{txt}         71 {c |}{res}     10,966        1.42       58.38
{txt}         72 {c |}{res}     10,966        1.42       59.80
{txt}         73 {c |}{res}      9,637        1.25       61.05
{txt}         74 {c |}{res}         22        0.00       61.05
{txt}         75 {c |}{res}      9,203        1.19       62.24
{txt}         76 {c |}{res}         22        0.00       62.25
{txt}         77 {c |}{res}      9,203        1.19       63.44
{txt}         78 {c |}{res}         22        0.00       63.44
{txt}         79 {c |}{res}      9,203        1.19       64.63
{txt}         80 {c |}{res}         22        0.00       64.63
{txt}         81 {c |}{res}      9,203        1.19       65.83
{txt}         82 {c |}{res}         22        0.00       65.83
{txt}         83 {c |}{res}      9,203        1.19       67.02
{txt}         84 {c |}{res}         22        0.00       67.02
{txt}         85 {c |}{res}      9,203        1.19       68.21
{txt}         86 {c |}{res}         22        0.00       68.22
{txt}         87 {c |}{res}      9,203        1.19       69.41
{txt}         88 {c |}{res}         22        0.00       69.41
{txt}         89 {c |}{res}      9,203        1.19       70.60
{txt}         90 {c |}{res}         22        0.00       70.61
{txt}         91 {c |}{res}      9,203        1.19       71.80
{txt}         92 {c |}{res}         22        0.00       71.80
{txt}         93 {c |}{res}      9,203        1.19       72.99
{txt}         94 {c |}{res}         22        0.00       72.99
{txt}         95 {c |}{res}      9,203        1.19       74.19
{txt}         96 {c |}{res}         22        0.00       74.19
{txt}         97 {c |}{res}      7,420        0.96       75.15
{txt}         98 {c |}{res}      7,153        0.93       76.08
{txt}         99 {c |}{res}      7,153        0.93       77.00
{txt}        100 {c |}{res}      7,153        0.93       77.93
{txt}        101 {c |}{res}      7,153        0.93       78.85
{txt}        102 {c |}{res}      7,153        0.93       79.78
{txt}        103 {c |}{res}      7,153        0.93       80.71
{txt}        104 {c |}{res}      7,153        0.93       81.63
{txt}        105 {c |}{res}      7,153        0.93       82.56
{txt}        106 {c |}{res}      7,153        0.93       83.48
{txt}        107 {c |}{res}      7,153        0.93       84.41
{txt}        108 {c |}{res}      7,153        0.93       85.34
{txt}        109 {c |}{res}      4,071        0.53       85.86
{txt}        110 {c |}{res}      3,859        0.50       86.36
{txt}        111 {c |}{res}      3,859        0.50       86.86
{txt}        112 {c |}{res}      3,859        0.50       87.36
{txt}        113 {c |}{res}      3,859        0.50       87.86
{txt}        114 {c |}{res}      3,859        0.50       88.36
{txt}        115 {c |}{res}      3,859        0.50       88.86
{txt}        116 {c |}{res}      3,859        0.50       89.36
{txt}        117 {c |}{res}      3,859        0.50       89.86
{txt}        118 {c |}{res}      3,859        0.50       90.36
{txt}        119 {c |}{res}      3,859        0.50       90.86
{txt}        120 {c |}{res}      3,859        0.50       91.36
{txt}        121 {c |}{res}      5,782        0.75       92.11
{txt}        122 {c |}{res}      5,541        0.72       92.83
{txt}        123 {c |}{res}      5,541        0.72       93.54
{txt}        124 {c |}{res}      5,541        0.72       94.26
{txt}        125 {c |}{res}      5,541        0.72       94.98
{txt}        126 {c |}{res}      5,541        0.72       95.70
{txt}        127 {c |}{res}      5,541        0.72       96.41
{txt}        128 {c |}{res}      5,541        0.72       97.13
{txt}        129 {c |}{res}      5,541        0.72       97.85
{txt}        130 {c |}{res}      5,541        0.72       98.57
{txt}        131 {c |}{res}      5,541        0.72       99.28
{txt}        132 {c |}{res}      5,541        0.72      100.00
{txt}{hline 12}{c +}{hline 35}
      Total {c |}{res}    772,376      100.00
{txt}
{com}. 
. *Product
. reghdfe dlogunits i.presub3a##ib1.treata i.presub2a##ib1.treata i.presub1a##ib1.treata i.sub1a##ib1.treata i.sub2a##ib1.treata i.postsub1a##ib1.treata i.postsub2a##ib1.treata i.postsub3a##ib1.treata  mage mage2 , absorb(id2 cmt) cluster(id) 
{res}{txt}(dropped 88828 {browse "http://scorreia.com/research/singletons.pdf":singleton observations})
{res}{txt}note: {res}0bn.treata{txt} is probably collinear with the fixed effects (all partialled-out values are close to zero; tol = 1.0e-09)
{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 15 iterations)
{res}{txt}note: 0.treata omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}   267,502
{txt}Absorbing 2 HDFE groups{col 51}F({res}  18{txt},{res}   6418{txt}){col 67}= {res}      6.65
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.4543
{txt}{col 51}Adj R-squared{col 67}= {res}    0.0805
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0005
{txt}{col 1}Number of clusters ({res}id{txt}) {col 30}= {res}     6,419{txt}{col 51}Root MSE{col 67}= {res}    0.7124

{txt}{ralign 82:(Std. Err. adjusted for {res:6,419} clusters in id)}
{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 18}{c |}{col 30}    Robust
{col 1}       dlogunits{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      t{col 50}   P>|t|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 6}1.presub3a {c |}{col 18}{res}{space 2} .0612902{col 30}{space 2} .1584328{col 41}{space 1}    0.39{col 50}{space 3}0.699{col 58}{space 4} -.249291{col 71}{space 3} .3718714
{txt}{space 8}0.treata {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 16} {c |}
{space 1}presub3a#treata {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .0408984{col 30}{space 2} .1729348{col 41}{space 1}    0.24{col 50}{space 3}0.813{col 58}{space 4}-.2981115{col 71}{space 3} .3799084
{txt}{space 16} {c |}
{space 6}1.presub2a {c |}{col 18}{res}{space 2} .2212265{col 30}{space 2} .1757219{col 41}{space 1}    1.26{col 50}{space 3}0.208{col 58}{space 4}-.1232471{col 71}{space 3} .5657001
{txt}{space 16} {c |}
{space 1}presub2a#treata {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.1468662{col 30}{space 2} .1893705{col 41}{space 1}   -0.78{col 50}{space 3}0.438{col 58}{space 4}-.5180957{col 71}{space 3} .2243632
{txt}{space 16} {c |}
{space 6}1.presub1a {c |}{col 18}{res}{space 2}-.1112671{col 30}{space 2} .1637043{col 41}{space 1}   -0.68{col 50}{space 3}0.497{col 58}{space 4}-.4321821{col 71}{space 3} .2096479
{txt}{space 16} {c |}
{space 1}presub1a#treata {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .0473709{col 30}{space 2} .1743099{col 41}{space 1}    0.27{col 50}{space 3}0.786{col 58}{space 4}-.2943345{col 71}{space 3} .3890764
{txt}{space 16} {c |}
{space 9}1.sub1a {c |}{col 18}{res}{space 2} .3820048{col 30}{space 2} .2075926{col 41}{space 1}    1.84{col 50}{space 3}0.066{col 58}{space 4}-.0249459{col 71}{space 3} .7889555
{txt}{space 16} {c |}
{space 4}sub1a#treata {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.4653005{col 30}{space 2} .2178274{col 41}{space 1}   -2.14{col 50}{space 3}0.033{col 58}{space 4}-.8923148{col 71}{space 3}-.0382862
{txt}{space 16} {c |}
{space 9}1.sub2a {c |}{col 18}{res}{space 2}  .195131{col 30}{space 2} .1490407{col 41}{space 1}    1.31{col 50}{space 3}0.190{col 58}{space 4}-.0970385{col 71}{space 3} .4873005
{txt}{space 16} {c |}
{space 4}sub2a#treata {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.2432943{col 30}{space 2} .1612434{col 41}{space 1}   -1.51{col 50}{space 3}0.131{col 58}{space 4}-.5593851{col 71}{space 3} .0727966
{txt}{space 16} {c |}
{space 5}1.postsub1a {c |}{col 18}{res}{space 2} .0047155{col 30}{space 2}    .1505{col 41}{space 1}    0.03{col 50}{space 3}0.975{col 58}{space 4}-.2903147{col 71}{space 3} .2997457
{txt}{space 16} {c |}
postsub1a#treata {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .1786894{col 30}{space 2} .1634671{col 41}{space 1}    1.09{col 50}{space 3}0.274{col 58}{space 4}-.1417607{col 71}{space 3} .4991395
{txt}{space 16} {c |}
{space 5}1.postsub2a {c |}{col 18}{res}{space 2}-.4121105{col 30}{space 2}  .173169{col 41}{space 1}   -2.38{col 50}{space 3}0.017{col 58}{space 4}-.7515795{col 71}{space 3}-.0726415
{txt}{space 16} {c |}
postsub2a#treata {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}  .452554{col 30}{space 2} .1853917{col 41}{space 1}    2.44{col 50}{space 3}0.015{col 58}{space 4} .0891244{col 71}{space 3} .8159836
{txt}{space 16} {c |}
{space 5}1.postsub3a {c |}{col 18}{res}{space 2}-.1466649{col 30}{space 2} .1310348{col 41}{space 1}   -1.12{col 50}{space 3}0.263{col 58}{space 4}-.4035368{col 71}{space 3} .1102069
{txt}{space 16} {c |}
postsub3a#treata {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .0397062{col 30}{space 2}  .143505{col 41}{space 1}    0.28{col 50}{space 3}0.782{col 58}{space 4}-.2416115{col 71}{space 3} .3210238
{txt}{space 16} {c |}
{space 12}mage {c |}{col 18}{res}{space 2}-.0048484{col 30}{space 2} .0005927{col 41}{space 1}   -8.18{col 50}{space 3}0.000{col 58}{space 4}-.0060103{col 71}{space 3}-.0036866
{txt}{space 11}mage2 {c |}{col 18}{res}{space 2} .0000479{col 30}{space 2} 7.92e-06{col 41}{space 1}    6.05{col 50}{space 3}0.000{col 58}{space 4} .0000324{col 71}{space 3} .0000635
{txt}{space 11}_cons {c |}{col 18}{res}{space 2} .0542449{col 30}{space 2} .0086575{col 41}{space 1}    6.27{col 50}{space 3}0.000{col 58}{space 4} .0372734{col 71}{space 3} .0712164
{txt}{hline 17}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}         id2{col 14}{c |}{space 1}   108619{col 27}{space 1}   108619{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}         cmt{col 14}{c |}{space 1}      121{col 27}{space 1}        0{col 39}{result}{space 1}      121{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}. est store subu
{txt}
{com}.                 
. *Country-date
. reghdfe dlogunits i.presub3a##ib1.treata i.presub2a##ib1.treata i.presub1a##ib1.treata i.sub1a##ib1.treata i.sub2a##ib1.treata i.postsub1a##ib1.treata i.postsub2a##ib1.treata  i.postsub3a##ib1.treata mage mage2 , absorb(id2 cmt) cluster(cd) 
{res}{txt}(dropped 88828 {browse "http://scorreia.com/research/singletons.pdf":singleton observations})
{res}{txt}note: {res}0bn.treata{txt} is probably collinear with the fixed effects (all partialled-out values are close to zero; tol = 1.0e-09)
{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 15 iterations)
{res}{txt}note: 0.treata omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}   267,502
{txt}Absorbing 2 HDFE groups{col 51}F({res}  18{txt},{res}   1199{txt}){col 67}= {res}     10.90
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.4543
{txt}{col 51}Adj R-squared{col 67}= {res}    0.0805
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0005
{txt}{col 1}Number of clusters ({res}cd{txt}) {col 30}= {res}     1,200{txt}{col 51}Root MSE{col 67}= {res}    0.7124

{txt}{ralign 82:(Std. Err. adjusted for {res:1,200} clusters in cd)}
{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 18}{c |}{col 30}    Robust
{col 1}       dlogunits{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      t{col 50}   P>|t|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 6}1.presub3a {c |}{col 18}{res}{space 2} .0612902{col 30}{space 2} .0883276{col 41}{space 1}    0.69{col 50}{space 3}0.488{col 58}{space 4}-.1120038{col 71}{space 3} .2345841
{txt}{space 8}0.treata {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 16} {c |}
{space 1}presub3a#treata {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .0408984{col 30}{space 2}  .112533{col 41}{space 1}    0.36{col 50}{space 3}0.716{col 58}{space 4}-.1798851{col 71}{space 3}  .261682
{txt}{space 16} {c |}
{space 6}1.presub2a {c |}{col 18}{res}{space 2} .2212265{col 30}{space 2} .0740399{col 41}{space 1}    2.99{col 50}{space 3}0.003{col 58}{space 4} .0759643{col 71}{space 3} .3664887
{txt}{space 16} {c |}
{space 1}presub2a#treata {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.1468662{col 30}{space 2} .0863002{col 41}{space 1}   -1.70{col 50}{space 3}0.089{col 58}{space 4}-.3161825{col 71}{space 3}   .02245
{txt}{space 16} {c |}
{space 6}1.presub1a {c |}{col 18}{res}{space 2}-.1112671{col 30}{space 2} .0874041{col 41}{space 1}   -1.27{col 50}{space 3}0.203{col 58}{space 4}-.2827491{col 71}{space 3} .0602149
{txt}{space 16} {c |}
{space 1}presub1a#treata {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .0473709{col 30}{space 2} .0918185{col 41}{space 1}    0.52{col 50}{space 3}0.606{col 58}{space 4}-.1327719{col 71}{space 3} .2275138
{txt}{space 16} {c |}
{space 9}1.sub1a {c |}{col 18}{res}{space 2} .3820048{col 30}{space 2} .0557627{col 41}{space 1}    6.85{col 50}{space 3}0.000{col 58}{space 4} .2726014{col 71}{space 3} .4914082
{txt}{space 16} {c |}
{space 4}sub1a#treata {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.4653005{col 30}{space 2}  .074967{col 41}{space 1}   -6.21{col 50}{space 3}0.000{col 58}{space 4}-.6123816{col 71}{space 3}-.3182195
{txt}{space 16} {c |}
{space 9}1.sub2a {c |}{col 18}{res}{space 2}  .195131{col 30}{space 2} .1235531{col 41}{space 1}    1.58{col 50}{space 3}0.115{col 58}{space 4}-.0472733{col 71}{space 3} .4375353
{txt}{space 16} {c |}
{space 4}sub2a#treata {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.2432943{col 30}{space 2} .1277802{col 41}{space 1}   -1.90{col 50}{space 3}0.057{col 58}{space 4} -.493992{col 71}{space 3} .0074035
{txt}{space 16} {c |}
{space 5}1.postsub1a {c |}{col 18}{res}{space 2} .0047155{col 30}{space 2} .0817019{col 41}{space 1}    0.06{col 50}{space 3}0.954{col 58}{space 4}-.1555791{col 71}{space 3}   .16501
{txt}{space 16} {c |}
postsub1a#treata {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .1786894{col 30}{space 2} .0913836{col 41}{space 1}    1.96{col 50}{space 3}0.051{col 58}{space 4}-.0006003{col 71}{space 3}  .357979
{txt}{space 16} {c |}
{space 5}1.postsub2a {c |}{col 18}{res}{space 2}-.4121105{col 30}{space 2} .0829943{col 41}{space 1}   -4.97{col 50}{space 3}0.000{col 58}{space 4}-.5749407{col 71}{space 3}-.2492802
{txt}{space 16} {c |}
postsub2a#treata {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}  .452554{col 30}{space 2} .0973662{col 41}{space 1}    4.65{col 50}{space 3}0.000{col 58}{space 4} .2615269{col 71}{space 3} .6435812
{txt}{space 16} {c |}
{space 5}1.postsub3a {c |}{col 18}{res}{space 2}-.1466649{col 30}{space 2} .0593415{col 41}{space 1}   -2.47{col 50}{space 3}0.014{col 58}{space 4}-.2630897{col 71}{space 3}-.0302401
{txt}{space 16} {c |}
postsub3a#treata {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .0397062{col 30}{space 2} .0676941{col 41}{space 1}    0.59{col 50}{space 3}0.558{col 58}{space 4} -.093106{col 71}{space 3} .1725183
{txt}{space 16} {c |}
{space 12}mage {c |}{col 18}{res}{space 2}-.0048484{col 30}{space 2} .0009766{col 41}{space 1}   -4.96{col 50}{space 3}0.000{col 58}{space 4}-.0067644{col 71}{space 3}-.0029324
{txt}{space 11}mage2 {c |}{col 18}{res}{space 2} .0000479{col 30}{space 2} .0000125{col 41}{space 1}    3.83{col 50}{space 3}0.000{col 58}{space 4} .0000234{col 71}{space 3} .0000725
{txt}{space 11}_cons {c |}{col 18}{res}{space 2} .0542449{col 30}{space 2} .0150245{col 41}{space 1}    3.61{col 50}{space 3}0.000{col 58}{space 4} .0247677{col 71}{space 3} .0837221
{txt}{hline 17}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}         id2{col 14}{c |}{space 1}   108619{col 27}{space 1}        0{col 39}{result}{space 1}   108619{col 53}{text} {col 54}{c |}
{res}{col 1}{text}         cmt{col 14}{c |}{space 1}      121{col 27}{space 1}       12{col 39}{result}{space 1}      109{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
{res}{txt}
{com}. est store subu1
{txt}
{com}. 
. *Country
. reghdfe dlogunits i.presub3a##ib1.treata i.presub2a##ib1.treata i.presub1a##ib1.treata i.sub1a##ib1.treata i.sub2a##ib1.treata i.postsub1a##ib1.treata i.postsub2a##ib1.treata  i.postsub3a##ib1.treata mage mage2 , absorb(id2 cmt) cluster(country)
{res}{txt}(dropped 88828 {browse "http://scorreia.com/research/singletons.pdf":singleton observations})
{res}{txt}note: {res}0bn.treata{txt} is probably collinear with the fixed effects (all partialled-out values are close to zero; tol = 1.0e-09)
{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 15 iterations)
{res}{txt}warning: missing F statistic; dropped variables due to collinearity or too few clusters
{txt}note: 0.treata omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}   267,502
{txt}Absorbing 2 HDFE groups{col 51}{help j_robustsingular##|_new:F(  18,      7)}{col 67}=          {res}.
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}=          {res}.
{txt}{col 51}R-squared{col 67}= {res}    0.4543
{txt}{col 51}Adj R-squared{col 67}= {res}    0.0805
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0005
{txt}{col 1}Number of clusters ({res}country{txt}) {col 30}= {res}         8{txt}{col 51}Root MSE{col 67}= {res}    0.7124

{txt}{ralign 82:(Std. Err. adjusted for {res:8} clusters in country)}
{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 18}{c |}{col 30}    Robust
{col 1}       dlogunits{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      t{col 50}   P>|t|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 6}1.presub3a {c |}{col 18}{res}{space 2} .0612902{col 30}{space 2} .0300316{col 41}{space 1}    2.04{col 50}{space 3}0.081{col 58}{space 4}-.0097233{col 71}{space 3} .1323036
{txt}{space 8}0.treata {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 16} {c |}
{space 1}presub3a#treata {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .0408984{col 30}{space 2} .0777314{col 41}{space 1}    0.53{col 50}{space 3}0.615{col 58}{space 4}-.1429071{col 71}{space 3}  .224704
{txt}{space 16} {c |}
{space 6}1.presub2a {c |}{col 18}{res}{space 2} .2212265{col 30}{space 2} .1126151{col 41}{space 1}    1.96{col 50}{space 3}0.090{col 58}{space 4}-.0450659{col 71}{space 3} .4875189
{txt}{space 16} {c |}
{space 1}presub2a#treata {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.1468662{col 30}{space 2} .1251575{col 41}{space 1}   -1.17{col 50}{space 3}0.279{col 58}{space 4}-.4428168{col 71}{space 3} .1490843
{txt}{space 16} {c |}
{space 6}1.presub1a {c |}{col 18}{res}{space 2}-.1112671{col 30}{space 2} .0383694{col 41}{space 1}   -2.90{col 50}{space 3}0.023{col 58}{space 4}-.2019964{col 71}{space 3}-.0205378
{txt}{space 16} {c |}
{space 1}presub1a#treata {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .0473709{col 30}{space 2} .0308529{col 41}{space 1}    1.54{col 50}{space 3}0.169{col 58}{space 4}-.0255845{col 71}{space 3} .1203264
{txt}{space 16} {c |}
{space 9}1.sub1a {c |}{col 18}{res}{space 2} .3820048{col 30}{space 2} .0559162{col 41}{space 1}    6.83{col 50}{space 3}0.000{col 58}{space 4} .2497841{col 71}{space 3} .5142255
{txt}{space 16} {c |}
{space 4}sub1a#treata {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.4653005{col 30}{space 2} .0848411{col 41}{space 1}   -5.48{col 50}{space 3}0.001{col 58}{space 4}-.6659178{col 71}{space 3}-.2646832
{txt}{space 16} {c |}
{space 9}1.sub2a {c |}{col 18}{res}{space 2}  .195131{col 30}{space 2} .0520395{col 41}{space 1}    3.75{col 50}{space 3}0.007{col 58}{space 4} .0720773{col 71}{space 3} .3181848
{txt}{space 16} {c |}
{space 4}sub2a#treata {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.2432943{col 30}{space 2} .0340613{col 41}{space 1}   -7.14{col 50}{space 3}0.000{col 58}{space 4}-.3238366{col 71}{space 3} -.162752
{txt}{space 16} {c |}
{space 5}1.postsub1a {c |}{col 18}{res}{space 2} .0047155{col 30}{space 2} .0443505{col 41}{space 1}    0.11{col 50}{space 3}0.918{col 58}{space 4}-.1001569{col 71}{space 3} .1095879
{txt}{space 16} {c |}
postsub1a#treata {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .1786894{col 30}{space 2}   .06553{col 41}{space 1}    2.73{col 50}{space 3}0.029{col 58}{space 4} .0237357{col 71}{space 3} .3336431
{txt}{space 16} {c |}
{space 5}1.postsub2a {c |}{col 18}{res}{space 2}-.4121105{col 30}{space 2} .1084556{col 41}{space 1}   -3.80{col 50}{space 3}0.007{col 58}{space 4}-.6685672{col 71}{space 3}-.1556538
{txt}{space 16} {c |}
postsub2a#treata {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}  .452554{col 30}{space 2} .1219309{col 41}{space 1}    3.71{col 50}{space 3}0.008{col 58}{space 4} .1642333{col 71}{space 3} .7408747
{txt}{space 16} {c |}
{space 5}1.postsub3a {c |}{col 18}{res}{space 2}-.1466649{col 30}{space 2} .0340055{col 41}{space 1}   -4.31{col 50}{space 3}0.004{col 58}{space 4}-.2270751{col 71}{space 3}-.0662548
{txt}{space 16} {c |}
postsub3a#treata {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .0397062{col 30}{space 2} .0561586{col 41}{space 1}    0.71{col 50}{space 3}0.502{col 58}{space 4}-.0930879{col 71}{space 3} .1725002
{txt}{space 16} {c |}
{space 12}mage {c |}{col 18}{res}{space 2}-.0048484{col 30}{space 2} .0011971{col 41}{space 1}   -4.05{col 50}{space 3}0.005{col 58}{space 4}-.0076791{col 71}{space 3}-.0020178
{txt}{space 11}mage2 {c |}{col 18}{res}{space 2} .0000479{col 30}{space 2} .0000132{col 41}{space 1}    3.63{col 50}{space 3}0.008{col 58}{space 4} .0000167{col 71}{space 3} .0000791
{txt}{space 11}_cons {c |}{col 18}{res}{space 2} .0542449{col 30}{space 2} .0185952{col 41}{space 1}    2.92{col 50}{space 3}0.022{col 58}{space 4} .0102742{col 71}{space 3} .0982157
{txt}{hline 17}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}         id2{col 14}{c |}{space 1}   108619{col 27}{space 1}        0{col 39}{result}{space 1}   108619{col 53}{text} {col 54}{c |}
{res}{col 1}{text}         cmt{col 14}{c |}{space 1}      121{col 27}{space 1}      121{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}. est store subu2
{txt}
{com}. 
. *Country and id
. reghdfe dlogunits i.presub3a##ib1.treata i.presub2a##ib1.treata i.presub1a##ib1.treata i.sub1a##ib1.treata i.sub2a##ib1.treata i.postsub1a##ib1.treata i.postsub2a##ib1.treata  i.postsub3a##ib1.treata mage mage2 , absorb(id2 cmt) cluster(country id) 
{res}{txt}(dropped 88828 {browse "http://scorreia.com/research/singletons.pdf":singleton observations})
{res}{txt}note: {res}0bn.treata{txt} is probably collinear with the fixed effects (all partialled-out values are close to zero; tol = 1.0e-09)
{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 15 iterations)
{res}{txt}Warning: VCV matrix was non-positive semi-definite; adjustment from Cameron, Gelbach & Miller applied.
{txt}note: 0.treata omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}   267,502
{txt}Absorbing 2 HDFE groups{col 51}F({res}  18{txt},{res}      7{txt}){col 67}= {res}      5.09
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0177
{txt}{col 51}R-squared{col 67}= {res}    0.4543
{txt}{col 51}Adj R-squared{col 67}= {res}    0.0805
{txt}{col 1}Number of clusters ({res}country{txt}) {col 30}= {res}         8{txt}{col 51}Within R-sq.{col 67}= {res}    0.0005
{txt}{col 1}Number of clusters ({res}id{txt}) {col 30}= {res}     6,419{txt}{col 51}Root MSE{col 67}= {res}    0.7124

{txt}{ralign 82:(Std. Err. adjusted for {res:8} clusters in country id)}
{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 18}{c |}{col 30}    Robust
{col 1}       dlogunits{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      t{col 50}   P>|t|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 6}1.presub3a {c |}{col 18}{res}{space 2} .0612902{col 30}{space 2}  .118458{col 41}{space 1}    0.52{col 50}{space 3}0.621{col 58}{space 4}-.2188185{col 71}{space 3} .3413989
{txt}{space 8}0.treata {c |}{col 18}{res}{space 2}        0{col 30}{space 2} 1.94e-16{col 41}{space 1}    0.00{col 50}{space 3}1.000{col 58}{space 4}-4.60e-16{col 71}{space 3} 4.60e-16
{txt}{space 16} {c |}
{space 1}presub3a#treata {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .0408984{col 30}{space 2} .1392085{col 41}{space 1}    0.29{col 50}{space 3}0.777{col 58}{space 4}-.2882774{col 71}{space 3} .3700743
{txt}{space 16} {c |}
{space 6}1.presub2a {c |}{col 18}{res}{space 2} .2212265{col 30}{space 2} .1544061{col 41}{space 1}    1.43{col 50}{space 3}0.195{col 58}{space 4} -.143886{col 71}{space 3}  .586339
{txt}{space 16} {c |}
{space 1}presub2a#treata {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.1468662{col 30}{space 2} .1675085{col 41}{space 1}   -0.88{col 50}{space 3}0.410{col 58}{space 4} -.542961{col 71}{space 3} .2492285
{txt}{space 16} {c |}
{space 6}1.presub1a {c |}{col 18}{res}{space 2}-.1112671{col 30}{space 2} .1222822{col 41}{space 1}   -0.91{col 50}{space 3}0.393{col 58}{space 4}-.4004185{col 71}{space 3} .1778843
{txt}{space 16} {c |}
{space 1}presub1a#treata {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .0473709{col 30}{space 2} .1278787{col 41}{space 1}    0.37{col 50}{space 3}0.722{col 58}{space 4}-.2550142{col 71}{space 3} .3497561
{txt}{space 16} {c |}
{space 9}1.sub1a {c |}{col 18}{res}{space 2} .3820048{col 30}{space 2} .1607654{col 41}{space 1}    2.38{col 50}{space 3}0.049{col 58}{space 4}  .001855{col 71}{space 3} .7621546
{txt}{space 16} {c |}
{space 4}sub1a#treata {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.4653005{col 30}{space 2} .1740538{col 41}{space 1}   -2.67{col 50}{space 3}0.032{col 58}{space 4}-.8768724{col 71}{space 3}-.0537287
{txt}{space 16} {c |}
{space 9}1.sub2a {c |}{col 18}{res}{space 2}  .195131{col 30}{space 2} .1144537{col 41}{space 1}    1.70{col 50}{space 3}0.132{col 58}{space 4} -.075509{col 71}{space 3}  .465771
{txt}{space 16} {c |}
{space 4}sub2a#treata {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.2432943{col 30}{space 2} .1181339{col 41}{space 1}   -2.06{col 50}{space 3}0.078{col 58}{space 4}-.5226366{col 71}{space 3}  .036048
{txt}{space 16} {c |}
{space 5}1.postsub1a {c |}{col 18}{res}{space 2} .0047155{col 30}{space 2} .1115327{col 41}{space 1}    0.04{col 50}{space 3}0.967{col 58}{space 4}-.2590176{col 71}{space 3} .2684485
{txt}{space 16} {c |}
postsub1a#treata {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .1786894{col 30}{space 2} .1252448{col 41}{space 1}    1.43{col 50}{space 3}0.197{col 58}{space 4}-.1174676{col 71}{space 3} .4748463
{txt}{space 16} {c |}
{space 5}1.postsub2a {c |}{col 18}{res}{space 2}-.4121105{col 30}{space 2} .1523757{col 41}{space 1}   -2.70{col 50}{space 3}0.030{col 58}{space 4}-.7724218{col 71}{space 3}-.0517992
{txt}{space 16} {c |}
postsub2a#treata {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}  .452554{col 30}{space 2} .1650275{col 41}{space 1}    2.74{col 50}{space 3}0.029{col 58}{space 4} .0623261{col 71}{space 3} .8427819
{txt}{space 16} {c |}
{space 5}1.postsub3a {c |}{col 18}{res}{space 2}-.1466649{col 30}{space 2} .1001459{col 41}{space 1}   -1.46{col 50}{space 3}0.186{col 58}{space 4}-.3834723{col 71}{space 3} .0901424
{txt}{space 16} {c |}
postsub3a#treata {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .0397062{col 30}{space 2} .1137909{col 41}{space 1}    0.35{col 50}{space 3}0.737{col 58}{space 4}-.2293665{col 71}{space 3} .3087788
{txt}{space 16} {c |}
{space 12}mage {c |}{col 18}{res}{space 2}-.0048484{col 30}{space 2} .0010004{col 41}{space 1}   -4.85{col 50}{space 3}0.002{col 58}{space 4}-.0072141{col 71}{space 3}-.0024828
{txt}{space 11}mage2 {c |}{col 18}{res}{space 2} .0000479{col 30}{space 2} .0000115{col 41}{space 1}    4.17{col 50}{space 3}0.004{col 58}{space 4} .0000207{col 71}{space 3} .0000751
{txt}{space 11}_cons {c |}{col 18}{res}{space 2} .0542449{col 30}{space 2} .0152973{col 41}{space 1}    3.55{col 50}{space 3}0.009{col 58}{space 4} .0180725{col 71}{space 3} .0904174
{txt}{hline 17}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}         id2{col 14}{c |}{space 1}   108619{col 27}{space 1}   108619{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}         cmt{col 14}{c |}{space 1}      121{col 27}{space 1}      121{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}. est store subu3
{txt}
{com}. 
. esttab  subu subu2 subu1 subu3  , se star(* 0.10 ** 0.05 *** 0.01) mtitles nogaps scalars(N ) order(1.presub2a 1.presub1a 1.sub1a 1.sub2a 1.postsub1a 1.postsub2a ) keep(1.presub2a 1.presub1a 1.sub1a 1.sub2a 1.postsub1a 1.postsub2a)
{res}
{txt}{hline 76}
{txt}                      (1)             (2)             (3)             (4)   
{txt}                     subu           subu2           subu1           subu3   
{txt}{hline 76}
{txt}1.presub2a  {res}        0.221           0.221*          0.221***        0.221   {txt}
            {res} {ralign 12:{txt:(}0.176{txt:)}}    {ralign 12:{txt:(}0.113{txt:)}}    {ralign 12:{txt:(}0.0740{txt:)}}    {ralign 12:{txt:(}0.154{txt:)}}   {txt}
{txt}1.presub1a  {res}       -0.111          -0.111**        -0.111          -0.111   {txt}
            {res} {ralign 12:{txt:(}0.164{txt:)}}    {ralign 12:{txt:(}0.0384{txt:)}}    {ralign 12:{txt:(}0.0874{txt:)}}    {ralign 12:{txt:(}0.122{txt:)}}   {txt}
{txt}1.sub1a     {res}        0.382*          0.382***        0.382***        0.382** {txt}
            {res} {ralign 12:{txt:(}0.208{txt:)}}    {ralign 12:{txt:(}0.0559{txt:)}}    {ralign 12:{txt:(}0.0558{txt:)}}    {ralign 12:{txt:(}0.161{txt:)}}   {txt}
{txt}1.sub2a     {res}        0.195           0.195***        0.195           0.195   {txt}
            {res} {ralign 12:{txt:(}0.149{txt:)}}    {ralign 12:{txt:(}0.0520{txt:)}}    {ralign 12:{txt:(}0.124{txt:)}}    {ralign 12:{txt:(}0.114{txt:)}}   {txt}
{txt}1.postsub1a {res}      0.00472         0.00472         0.00472         0.00472   {txt}
            {res} {ralign 12:{txt:(}0.150{txt:)}}    {ralign 12:{txt:(}0.0444{txt:)}}    {ralign 12:{txt:(}0.0817{txt:)}}    {ralign 12:{txt:(}0.112{txt:)}}   {txt}
{txt}1.postsub2a {res}       -0.412**        -0.412***       -0.412***       -0.412** {txt}
            {res} {ralign 12:{txt:(}0.173{txt:)}}    {ralign 12:{txt:(}0.108{txt:)}}    {ralign 12:{txt:(}0.0830{txt:)}}    {ralign 12:{txt:(}0.152{txt:)}}   {txt}
{txt}{hline 76}
{txt}N           {res}       267502          267502          267502          267502   {txt}
{txt}{hline 76}
{txt}Standard errors in parentheses
{txt}* p<0.10, ** p<0.05, *** p<0.01

{com}. 
. 
. ****WILD BOOTSTRAP
. 
. 
. xtset id2
{txt}{col 8}panel variable:  {res}id2 (unbalanced)
{txt}
{com}. 
. xtreg dlogunits i.presub2a##ib1.treata i.presub1a##ib1.treata i.sub1a##ib1.treata i.sub2a##ib1.treata i.postsub1a##ib1.treata i.postsub2a##ib1.treata mage mage2 b1-b132 , fe
{p 0 6 2}{txt}note: b28 omitted because of collinearity{p_end}
{p 0 6 2}note: b30 omitted because of collinearity{p_end}
{p 0 6 2}note: b90 omitted because of collinearity{p_end}
{p 0 6 2}note: b96 omitted because of collinearity{p_end}
{p 0 6 2}note: b121 omitted because of collinearity{p_end}
{p 0 6 2}note: b122 omitted because of collinearity{p_end}
{p 0 6 2}note: b123 omitted because of collinearity{p_end}
{p 0 6 2}note: b124 omitted because of collinearity{p_end}
{p 0 6 2}note: b125 omitted because of collinearity{p_end}
{p 0 6 2}note: b126 omitted because of collinearity{p_end}
{p 0 6 2}note: b127 omitted because of collinearity{p_end}
{p 0 6 2}note: b128 omitted because of collinearity{p_end}
{p 0 6 2}note: b129 omitted because of collinearity{p_end}
{p 0 6 2}note: b130 omitted because of collinearity{p_end}
{p 0 6 2}note: b131 omitted because of collinearity{p_end}
{p 0 6 2}note: b132 omitted because of collinearity{p_end}
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}   356,330
{txt}Group variable: {res}id2{txt}{col 49}Number of groups{col 67}={col 69}{res}   197,439

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.0097{col 63}{txt}min{col 67}={col 69}{res}         1
{txt}     between = {res}0.0231{col 63}{txt}avg{col 67}={col 69}{res}       1.8
{txt}     overall = {res}0.0195{col 63}{txt}max{col 67}={col 69}{res}         8

{txt}{col 49}F({res}131{txt},{res}158760{txt}){col 67}={col 70}{res}    11.82
{txt}corr(u_i, Xb){col 16}= {res}-0.0402{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       dlogunits{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      t{col 50}   P>|t|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 6}1.presub2a {c |}{col 18}{res}{space 2} .2212266{col 30}{space 2} .1698083{col 41}{space 1}    1.30{col 50}{space 3}0.193{col 58}{space 4}-.1115941{col 71}{space 3} .5540472
{txt}{space 8}0.treata {c |}{col 18}{res}{space 2} .6607968{col 30}{space 2} .3788128{col 41}{space 1}    1.74{col 50}{space 3}0.081{col 58}{space 4}-.0816683{col 71}{space 3} 1.403262
{txt}{space 16} {c |}
{space 1}presub2a#treata {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.1468661{col 30}{space 2} .1808632{col 41}{space 1}   -0.81{col 50}{space 3}0.417{col 58}{space 4}-.5013541{col 71}{space 3}  .207622
{txt}{space 16} {c |}
{space 6}1.presub1a {c |}{col 18}{res}{space 2}-.1112672{col 30}{space 2} .1752639{col 41}{space 1}   -0.63{col 50}{space 3}0.526{col 58}{space 4}-.4547808{col 71}{space 3} .2322464
{txt}{space 16} {c |}
{space 1}presub1a#treata {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .0473714{col 30}{space 2}  .186074{col 41}{space 1}    0.25{col 50}{space 3}0.799{col 58}{space 4}-.3173298{col 71}{space 3} .4120726
{txt}{space 16} {c |}
{space 9}1.sub1a {c |}{col 18}{res}{space 2} .3820049{col 30}{space 2} .1678486{col 41}{space 1}    2.28{col 50}{space 3}0.023{col 58}{space 4} .0530251{col 71}{space 3} .7109846
{txt}{space 16} {c |}
{space 4}sub1a#treata {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.4653004{col 30}{space 2} .1798914{col 41}{space 1}   -2.59{col 50}{space 3}0.010{col 58}{space 4}-.8178838{col 71}{space 3} -.112717
{txt}{space 16} {c |}
{space 9}1.sub2a {c |}{col 18}{res}{space 2} .1951312{col 30}{space 2} .1639659{col 41}{space 1}    1.19{col 50}{space 3}0.234{col 58}{space 4}-.1262386{col 71}{space 3} .5165009
{txt}{space 16} {c |}
{space 4}sub2a#treata {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.2432942{col 30}{space 2} .1763271{col 41}{space 1}   -1.38{col 50}{space 3}0.168{col 58}{space 4}-.5888916{col 71}{space 3} .1023032
{txt}{space 16} {c |}
{space 5}1.postsub1a {c |}{col 18}{res}{space 2} .0047157{col 30}{space 2} .1665568{col 41}{space 1}    0.03{col 50}{space 3}0.977{col 58}{space 4}-.3217321{col 71}{space 3} .3311634
{txt}{space 16} {c |}
postsub1a#treata {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .1786895{col 30}{space 2} .1785273{col 41}{space 1}    1.00{col 50}{space 3}0.317{col 58}{space 4}-.1712201{col 71}{space 3} .5285992
{txt}{space 16} {c |}
{space 5}1.postsub2a {c |}{col 18}{res}{space 2}-.4121105{col 30}{space 2} .1648658{col 41}{space 1}   -2.50{col 50}{space 3}0.012{col 58}{space 4}-.7352441{col 71}{space 3} -.088977
{txt}{space 16} {c |}
postsub2a#treata {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .4525543{col 30}{space 2} .1763724{col 41}{space 1}    2.57{col 50}{space 3}0.010{col 58}{space 4}  .106868{col 71}{space 3} .7982406
{txt}{space 16} {c |}
{space 12}mage {c |}{col 18}{res}{space 2}-.0048495{col 30}{space 2} .0008143{col 41}{space 1}   -5.96{col 50}{space 3}0.000{col 58}{space 4}-.0064456{col 71}{space 3}-.0032535
{txt}{space 11}mage2 {c |}{col 18}{res}{space 2} .0000479{col 30}{space 2} .0000112{col 41}{space 1}    4.27{col 50}{space 3}0.000{col 58}{space 4} .0000259{col 71}{space 3}   .00007
{txt}{space 14}b1 {c |}{col 18}{res}{space 2} .3446095{col 30}{space 2} .0295382{col 41}{space 1}   11.67{col 50}{space 3}0.000{col 58}{space 4} .2867153{col 71}{space 3} .4025037
{txt}{space 14}b2 {c |}{col 18}{res}{space 2} .8881369{col 30}{space 2}  .387558{col 41}{space 1}    2.29{col 50}{space 3}0.022{col 58}{space 4} .1285313{col 71}{space 3} 1.647742
{txt}{space 14}b3 {c |}{col 18}{res}{space 2}-.1188552{col 30}{space 2} .0310813{col 41}{space 1}   -3.82{col 50}{space 3}0.000{col 58}{space 4}-.1797738{col 71}{space 3}-.0579365
{txt}{space 14}b4 {c |}{col 18}{res}{space 2} .3727027{col 30}{space 2}  .392448{col 41}{space 1}    0.95{col 50}{space 3}0.342{col 58}{space 4}-.3964872{col 71}{space 3} 1.141893
{txt}{space 14}b5 {c |}{col 18}{res}{space 2} .0007812{col 30}{space 2} .0314643{col 41}{space 1}    0.02{col 50}{space 3}0.980{col 58}{space 4}-.0608881{col 71}{space 3} .0624505
{txt}{space 14}b6 {c |}{col 18}{res}{space 2} .7753738{col 30}{space 2} .3935263{col 41}{space 1}    1.97{col 50}{space 3}0.049{col 58}{space 4} .0040706{col 71}{space 3} 1.546677
{txt}{space 14}b7 {c |}{col 18}{res}{space 2}-.1162418{col 30}{space 2} .0313535{col 41}{space 1}   -3.71{col 50}{space 3}0.000{col 58}{space 4} -.177694{col 71}{space 3}-.0547896
{txt}{space 14}b8 {c |}{col 18}{res}{space 2} .6727111{col 30}{space 2} .3931205{col 41}{space 1}    1.71{col 50}{space 3}0.087{col 58}{space 4}-.0977968{col 71}{space 3} 1.443219
{txt}{space 14}b9 {c |}{col 18}{res}{space 2}  .128341{col 30}{space 2} .0313399{col 41}{space 1}    4.10{col 50}{space 3}0.000{col 58}{space 4} .0669154{col 71}{space 3} .1897666
{txt}{space 13}b10 {c |}{col 18}{res}{space 2} .6713637{col 30}{space 2} .3946266{col 41}{space 1}    1.70{col 50}{space 3}0.089{col 58}{space 4}-.1020961{col 71}{space 3} 1.444824
{txt}{space 13}b11 {c |}{col 18}{res}{space 2}-.1580345{col 30}{space 2} .0308858{col 41}{space 1}   -5.12{col 50}{space 3}0.000{col 58}{space 4}-.2185701{col 71}{space 3}-.0974989
{txt}{space 13}b12 {c |}{col 18}{res}{space 2} .4394782{col 30}{space 2} .3939087{col 41}{space 1}    1.12{col 50}{space 3}0.265{col 58}{space 4}-.3325745{col 71}{space 3} 1.211531
{txt}{space 13}b13 {c |}{col 18}{res}{space 2}   .14746{col 30}{space 2} .0309147{col 41}{space 1}    4.77{col 50}{space 3}0.000{col 58}{space 4} .0868677{col 71}{space 3} .2080522
{txt}{space 13}b14 {c |}{col 18}{res}{space 2} .8339988{col 30}{space 2} .3947228{col 41}{space 1}    2.11{col 50}{space 3}0.035{col 58}{space 4} .0603505{col 71}{space 3} 1.607647
{txt}{space 13}b15 {c |}{col 18}{res}{space 2}-.1024727{col 30}{space 2} .0300455{col 41}{space 1}   -3.41{col 50}{space 3}0.001{col 58}{space 4}-.1613612{col 71}{space 3}-.0435842
{txt}{space 13}b16 {c |}{col 18}{res}{space 2} .3418119{col 30}{space 2}  .388318{col 41}{space 1}    0.88{col 50}{space 3}0.379{col 58}{space 4}-.4192833{col 71}{space 3} 1.102907
{txt}{space 13}b17 {c |}{col 18}{res}{space 2}-.0219254{col 30}{space 2}  .030391{col 41}{space 1}   -0.72{col 50}{space 3}0.471{col 58}{space 4}-.0814911{col 71}{space 3} .0376402
{txt}{space 13}b18 {c |}{col 18}{res}{space 2} .7892536{col 30}{space 2} .3885558{col 41}{space 1}    2.03{col 50}{space 3}0.042{col 58}{space 4} .0276924{col 71}{space 3} 1.550815
{txt}{space 13}b19 {c |}{col 18}{res}{space 2} .0784421{col 30}{space 2} .0294754{col 41}{space 1}    2.66{col 50}{space 3}0.008{col 58}{space 4} .0206708{col 71}{space 3} .1362133
{txt}{space 13}b20 {c |}{col 18}{res}{space 2} .6055904{col 30}{space 2} .3873441{col 41}{space 1}    1.56{col 50}{space 3}0.118{col 58}{space 4}-.1535959{col 71}{space 3} 1.364777
{txt}{space 13}b21 {c |}{col 18}{res}{space 2} -.013138{col 30}{space 2} .0294028{col 41}{space 1}   -0.45{col 50}{space 3}0.655{col 58}{space 4}-.0707669{col 71}{space 3} .0444909
{txt}{space 13}b22 {c |}{col 18}{res}{space 2} .6927287{col 30}{space 2} .3877621{col 41}{space 1}    1.79{col 50}{space 3}0.074{col 58}{space 4}-.0672768{col 71}{space 3} 1.452734
{txt}{space 13}b23 {c |}{col 18}{res}{space 2}-.1399877{col 30}{space 2} .0292454{col 41}{space 1}   -4.79{col 50}{space 3}0.000{col 58}{space 4}-.1973082{col 71}{space 3}-.0826673
{txt}{space 13}b24 {c |}{col 18}{res}{space 2} .4864967{col 30}{space 2} .3851818{col 41}{space 1}    1.26{col 50}{space 3}0.207{col 58}{space 4}-.2684515{col 71}{space 3} 1.241445
{txt}{space 13}b25 {c |}{col 18}{res}{space 2}  .224841{col 30}{space 2} .0282949{col 41}{space 1}    7.95{col 50}{space 3}0.000{col 58}{space 4} .1693836{col 71}{space 3} .2802985
{txt}{space 13}b26 {c |}{col 18}{res}{space 2} 1.421884{col 30}{space 2} .7255477{col 41}{space 1}    1.96{col 50}{space 3}0.050{col 58}{space 4} -.000174{col 71}{space 3} 2.843942
{txt}{space 13}b27 {c |}{col 18}{res}{space 2} .0107419{col 30}{space 2} .0299491{col 41}{space 1}    0.36{col 50}{space 3}0.720{col 58}{space 4}-.0479577{col 71}{space 3} .0694415
{txt}{space 13}b28 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 13}b29 {c |}{col 18}{res}{space 2} .0673161{col 30}{space 2} .0303587{col 41}{space 1}    2.22{col 50}{space 3}0.027{col 58}{space 4} .0078137{col 71}{space 3} .1268184
{txt}{space 13}b30 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
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{txt}{space 13}b34 {c |}{col 18}{res}{space 2}  .489202{col 30}{space 2} .9531552{col 41}{space 1}    0.51{col 50}{space 3}0.608{col 58}{space 4}-1.378962{col 71}{space 3} 2.357366
{txt}{space 13}b35 {c |}{col 18}{res}{space 2} .0303262{col 30}{space 2} .0290282{col 41}{space 1}    1.04{col 50}{space 3}0.296{col 58}{space 4}-.0265686{col 71}{space 3} .0872209
{txt}{space 13}b36 {c |}{col 18}{res}{space 2} 1.197582{col 30}{space 2} .9530715{col 41}{space 1}    1.26{col 50}{space 3}0.209{col 58}{space 4}-.6704178{col 71}{space 3} 3.065582
{txt}{space 13}b37 {c |}{col 18}{res}{space 2} .0246914{col 30}{space 2}  .028745{col 41}{space 1}    0.86{col 50}{space 3}0.390{col 58}{space 4}-.0316483{col 71}{space 3} .0810311
{txt}{space 13}b38 {c |}{col 18}{res}{space 2} 1.297695{col 30}{space 2} .9531578{col 41}{space 1}    1.36{col 50}{space 3}0.173{col 58}{space 4} -.570474{col 71}{space 3} 3.165864
{txt}{space 13}b39 {c |}{col 18}{res}{space 2}-.0211188{col 30}{space 2} .0283084{col 41}{space 1}   -0.75{col 50}{space 3}0.456{col 58}{space 4}-.0766025{col 71}{space 3}  .034365
{txt}{space 13}b40 {c |}{col 18}{res}{space 2}-.9708982{col 30}{space 2}  .952495{col 41}{space 1}   -1.02{col 50}{space 3}0.308{col 58}{space 4}-2.837768{col 71}{space 3} .8959719
{txt}{space 13}b41 {c |}{col 18}{res}{space 2}-.0063715{col 30}{space 2} .0288872{col 41}{space 1}   -0.22{col 50}{space 3}0.825{col 58}{space 4}-.0629898{col 71}{space 3} .0502468
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{txt}{space 13}b45 {c |}{col 18}{res}{space 2}-.0032009{col 30}{space 2} .0279382{col 41}{space 1}   -0.11{col 50}{space 3}0.909{col 58}{space 4}-.0579593{col 71}{space 3} .0515574
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{txt}{space 13}b49 {c |}{col 18}{res}{space 2} .3123225{col 30}{space 2} .0252702{col 41}{space 1}   12.36{col 50}{space 3}0.000{col 58}{space 4} .2627934{col 71}{space 3} .3618517
{txt}{space 13}b50 {c |}{col 18}{res}{space 2} -.234276{col 30}{space 2} .0266393{col 41}{space 1}   -8.79{col 50}{space 3}0.000{col 58}{space 4}-.2864886{col 71}{space 3}-.1820635
{txt}{space 13}b51 {c |}{col 18}{res}{space 2} .0325293{col 30}{space 2} .0268097{col 41}{space 1}    1.21{col 50}{space 3}0.225{col 58}{space 4}-.0200172{col 71}{space 3} .0850757
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{txt}{space 13}b53 {c |}{col 18}{res}{space 2} .0834429{col 30}{space 2} .0267154{col 41}{space 1}    3.12{col 50}{space 3}0.002{col 58}{space 4} .0310814{col 71}{space 3} .1358044
{txt}{space 13}b54 {c |}{col 18}{res}{space 2}   -.1093{col 30}{space 2} .0263841{col 41}{space 1}   -4.14{col 50}{space 3}0.000{col 58}{space 4}-.1610122{col 71}{space 3}-.0575877
{txt}{space 13}b55 {c |}{col 18}{res}{space 2} .1571051{col 30}{space 2} .0259999{col 41}{space 1}    6.04{col 50}{space 3}0.000{col 58}{space 4} .1061459{col 71}{space 3} .2080643
{txt}{space 13}b56 {c |}{col 18}{res}{space 2}-.0439323{col 30}{space 2} .0257927{col 41}{space 1}   -1.70{col 50}{space 3}0.089{col 58}{space 4}-.0944855{col 71}{space 3} .0066209
{txt}{space 13}b57 {c |}{col 18}{res}{space 2}-.0043316{col 30}{space 2} .0258747{col 41}{space 1}   -0.17{col 50}{space 3}0.867{col 58}{space 4}-.0550454{col 71}{space 3} .0463822
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{txt}{space 13}b59 {c |}{col 18}{res}{space 2}  .041828{col 30}{space 2} .0253872{col 41}{space 1}    1.65{col 50}{space 3}0.099{col 58}{space 4}-.0079303{col 71}{space 3} .0915863
{txt}{space 13}b60 {c |}{col 18}{res}{space 2}-.0986099{col 30}{space 2} .0252044{col 41}{space 1}   -3.91{col 50}{space 3}0.000{col 58}{space 4}  -.14801{col 71}{space 3}-.0492097
{txt}{space 13}b61 {c |}{col 18}{res}{space 2} .4113164{col 30}{space 2}  .028882{col 41}{space 1}   14.24{col 50}{space 3}0.000{col 58}{space 4} .3547083{col 71}{space 3} .4679245
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{txt}{space 13}b63 {c |}{col 18}{res}{space 2}-.0352219{col 30}{space 2} .0303732{col 41}{space 1}   -1.16{col 50}{space 3}0.246{col 58}{space 4}-.0947527{col 71}{space 3}  .024309
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{txt}{space 13}b65 {c |}{col 18}{res}{space 2} .1457775{col 30}{space 2} .0302833{col 41}{space 1}    4.81{col 50}{space 3}0.000{col 58}{space 4} .0864228{col 71}{space 3} .2051321
{txt}{space 13}b66 {c |}{col 18}{res}{space 2}-.1605722{col 30}{space 2} .0299351{col 41}{space 1}   -5.36{col 50}{space 3}0.000{col 58}{space 4}-.2192444{col 71}{space 3}-.1018999
{txt}{space 13}b67 {c |}{col 18}{res}{space 2} .1743567{col 30}{space 2} .0297419{col 41}{space 1}    5.86{col 50}{space 3}0.000{col 58}{space 4} .1160633{col 71}{space 3} .2326501
{txt}{space 13}b68 {c |}{col 18}{res}{space 2}-.1399201{col 30}{space 2} .0293644{col 41}{space 1}   -4.76{col 50}{space 3}0.000{col 58}{space 4}-.1974738{col 71}{space 3}-.0823664
{txt}{space 13}b69 {c |}{col 18}{res}{space 2} -.062564{col 30}{space 2} .0296093{col 41}{space 1}   -2.11{col 50}{space 3}0.035{col 58}{space 4}-.1205976{col 71}{space 3}-.0045303
{txt}{space 13}b70 {c |}{col 18}{res}{space 2} .0900466{col 30}{space 2} .0289849{col 41}{space 1}    3.11{col 50}{space 3}0.002{col 58}{space 4} .0332368{col 71}{space 3} .1468565
{txt}{space 13}b71 {c |}{col 18}{res}{space 2}-.1361229{col 30}{space 2}   .02885{col 41}{space 1}   -4.72{col 50}{space 3}0.000{col 58}{space 4}-.1926683{col 71}{space 3}-.0795775
{txt}{space 13}b72 {c |}{col 18}{res}{space 2}-.1425494{col 30}{space 2} .0287224{col 41}{space 1}   -4.96{col 50}{space 3}0.000{col 58}{space 4}-.1988446{col 71}{space 3}-.0862542
{txt}{space 13}b73 {c |}{col 18}{res}{space 2} .0328881{col 30}{space 2} .0261701{col 41}{space 1}    1.26{col 50}{space 3}0.209{col 58}{space 4}-.0184048{col 71}{space 3} .0841811
{txt}{space 13}b74 {c |}{col 18}{res}{space 2} .0786518{col 30}{space 2} .6307479{col 41}{space 1}    0.12{col 50}{space 3}0.901{col 58}{space 4}-1.157601{col 71}{space 3} 1.314904
{txt}{space 13}b75 {c |}{col 18}{res}{space 2}-.0970567{col 30}{space 2} .0278274{col 41}{space 1}   -3.49{col 50}{space 3}0.000{col 58}{space 4}-.1515979{col 71}{space 3}-.0425156
{txt}{space 13}b76 {c |}{col 18}{res}{space 2} 2.188096{col 30}{space 2} .6396551{col 41}{space 1}    3.42{col 50}{space 3}0.001{col 58}{space 4}  .934385{col 71}{space 3} 3.441806
{txt}{space 13}b77 {c |}{col 18}{res}{space 2} .0008987{col 30}{space 2} .0279342{col 41}{space 1}    0.03{col 50}{space 3}0.974{col 58}{space 4}-.0538516{col 71}{space 3} .0556491
{txt}{space 13}b78 {c |}{col 18}{res}{space 2} .6222426{col 30}{space 2} .5646753{col 41}{space 1}    1.10{col 50}{space 3}0.270{col 58}{space 4}-.4845092{col 71}{space 3} 1.728994
{txt}{space 13}b79 {c |}{col 18}{res}{space 2}-.1059066{col 30}{space 2} .0281169{col 41}{space 1}   -3.77{col 50}{space 3}0.000{col 58}{space 4}-.1610151{col 71}{space 3} -.050798
{txt}{space 13}b80 {c |}{col 18}{res}{space 2} .5737257{col 30}{space 2} .5893621{col 41}{space 1}    0.97{col 50}{space 3}0.330{col 58}{space 4}-.5814117{col 71}{space 3} 1.728863
{txt}{space 13}b81 {c |}{col 18}{res}{space 2} .1649235{col 30}{space 2} .0279429{col 41}{space 1}    5.90{col 50}{space 3}0.000{col 58}{space 4} .1101561{col 71}{space 3} .2196909
{txt}{space 13}b82 {c |}{col 18}{res}{space 2} .9085491{col 30}{space 2} .6229141{col 41}{space 1}    1.46{col 50}{space 3}0.145{col 58}{space 4}-.3123494{col 71}{space 3} 2.129448
{txt}{space 13}b83 {c |}{col 18}{res}{space 2}-.1026057{col 30}{space 2} .0275198{col 41}{space 1}   -3.73{col 50}{space 3}0.000{col 58}{space 4}-.1565439{col 71}{space 3}-.0486676
{txt}{space 13}b84 {c |}{col 18}{res}{space 2} .4238823{col 30}{space 2}  .618618{col 41}{space 1}    0.69{col 50}{space 3}0.493{col 58}{space 4}-.7885959{col 71}{space 3}  1.63636
{txt}{space 13}b85 {c |}{col 18}{res}{space 2} .1293715{col 30}{space 2} .0270425{col 41}{space 1}    4.78{col 50}{space 3}0.000{col 58}{space 4} .0763688{col 71}{space 3} .1823742
{txt}{space 13}b86 {c |}{col 18}{res}{space 2} 1.780505{col 30}{space 2} .6230879{col 41}{space 1}    2.86{col 50}{space 3}0.004{col 58}{space 4} .5592656{col 71}{space 3} 3.001744
{txt}{space 13}b87 {c |}{col 18}{res}{space 2}-.0885129{col 30}{space 2}  .026801{col 41}{space 1}   -3.30{col 50}{space 3}0.001{col 58}{space 4}-.1410423{col 71}{space 3}-.0359836
{txt}{space 13}b88 {c |}{col 18}{res}{space 2}-.2596443{col 30}{space 2} .7244004{col 41}{space 1}   -0.36{col 50}{space 3}0.720{col 58}{space 4}-1.679454{col 71}{space 3} 1.160165
{txt}{space 13}b89 {c |}{col 18}{res}{space 2} .0492739{col 30}{space 2} .0268468{col 41}{space 1}    1.84{col 50}{space 3}0.066{col 58}{space 4}-.0033452{col 71}{space 3}  .101893
{txt}{space 13}b90 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 13}b91 {c |}{col 18}{res}{space 2}  .116978{col 30}{space 2} .0265604{col 41}{space 1}    4.40{col 50}{space 3}0.000{col 58}{space 4} .0649201{col 71}{space 3}  .169036
{txt}{space 13}b92 {c |}{col 18}{res}{space 2}-.0509091{col 30}{space 2} .6070704{col 41}{space 1}   -0.08{col 50}{space 3}0.933{col 58}{space 4}-1.240754{col 71}{space 3} 1.138936
{txt}{space 13}b93 {c |}{col 18}{res}{space 2} .0354259{col 30}{space 2} .0263597{col 41}{space 1}    1.34{col 50}{space 3}0.179{col 58}{space 4}-.0162385{col 71}{space 3} .0870904
{txt}{space 13}b94 {c |}{col 18}{res}{space 2} .5838335{col 30}{space 2}  .532631{col 41}{space 1}    1.10{col 50}{space 3}0.273{col 58}{space 4} -.460112{col 71}{space 3} 1.627779
{txt}{space 13}b95 {c |}{col 18}{res}{space 2}-.0116611{col 30}{space 2}  .026086{col 41}{space 1}   -0.45{col 50}{space 3}0.655{col 58}{space 4}-.0627892{col 71}{space 3}  .039467
{txt}{space 13}b96 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 13}b97 {c |}{col 18}{res}{space 2} .1160094{col 30}{space 2} .0269101{col 41}{space 1}    4.31{col 50}{space 3}0.000{col 58}{space 4} .0632662{col 71}{space 3} .1687526
{txt}{space 13}b98 {c |}{col 18}{res}{space 2}-.1040199{col 30}{space 2} .0284721{col 41}{space 1}   -3.65{col 50}{space 3}0.000{col 58}{space 4}-.1598247{col 71}{space 3}-.0482151
{txt}{space 13}b99 {c |}{col 18}{res}{space 2} .0565838{col 30}{space 2} .0286346{col 41}{space 1}    1.98{col 50}{space 3}0.048{col 58}{space 4} .0004607{col 71}{space 3} .1127069
{txt}{space 12}b100 {c |}{col 18}{res}{space 2}-.1059883{col 30}{space 2} .0285623{col 41}{space 1}   -3.71{col 50}{space 3}0.000{col 58}{space 4}-.1619699{col 71}{space 3}-.0500068
{txt}{space 12}b101 {c |}{col 18}{res}{space 2} .1695191{col 30}{space 2} .0284698{col 41}{space 1}    5.95{col 50}{space 3}0.000{col 58}{space 4} .1137189{col 71}{space 3} .2253192
{txt}{space 12}b102 {c |}{col 18}{res}{space 2}-.1497398{col 30}{space 2} .0280901{col 41}{space 1}   -5.33{col 50}{space 3}0.000{col 58}{space 4}-.2047958{col 71}{space 3}-.0946839
{txt}{space 12}b103 {c |}{col 18}{res}{space 2} .3023363{col 30}{space 2} .0277154{col 41}{space 1}   10.91{col 50}{space 3}0.000{col 58}{space 4} .2480148{col 71}{space 3} .3566578
{txt}{space 12}b104 {c |}{col 18}{res}{space 2}-.0735849{col 30}{space 2} .0273701{col 41}{space 1}   -2.69{col 50}{space 3}0.007{col 58}{space 4}-.1272297{col 71}{space 3}-.0199402
{txt}{space 12}b105 {c |}{col 18}{res}{space 2} .0089191{col 30}{space 2} .0274092{col 41}{space 1}    0.33{col 50}{space 3}0.745{col 58}{space 4}-.0448023{col 71}{space 3} .0626405
{txt}{space 12}b106 {c |}{col 18}{res}{space 2} .0688928{col 30}{space 2} .0271423{col 41}{space 1}    2.54{col 50}{space 3}0.011{col 58}{space 4} .0156943{col 71}{space 3} .1220912
{txt}{space 12}b107 {c |}{col 18}{res}{space 2}-.0066649{col 30}{space 2}  .026973{col 41}{space 1}   -0.25{col 50}{space 3}0.805{col 58}{space 4}-.0595315{col 71}{space 3} .0462017
{txt}{space 12}b108 {c |}{col 18}{res}{space 2} .0123785{col 30}{space 2} .0268523{col 41}{space 1}    0.46{col 50}{space 3}0.645{col 58}{space 4}-.0402514{col 71}{space 3} .0650083
{txt}{space 12}b109 {c |}{col 18}{res}{space 2} .0300773{col 30}{space 2} .0318368{col 41}{space 1}    0.94{col 50}{space 3}0.345{col 58}{space 4}-.0323222{col 71}{space 3} .0924769
{txt}{space 12}b110 {c |}{col 18}{res}{space 2} .0021899{col 30}{space 2} .0332961{col 41}{space 1}    0.07{col 50}{space 3}0.948{col 58}{space 4}-.0630697{col 71}{space 3} .0674495
{txt}{space 12}b111 {c |}{col 18}{res}{space 2} .0851089{col 30}{space 2} .0335708{col 41}{space 1}    2.54{col 50}{space 3}0.011{col 58}{space 4} .0193109{col 71}{space 3} .1509069
{txt}{space 12}b112 {c |}{col 18}{res}{space 2}-.1054482{col 30}{space 2} .0334226{col 41}{space 1}   -3.15{col 50}{space 3}0.002{col 58}{space 4}-.1709558{col 71}{space 3}-.0399406
{txt}{space 12}b113 {c |}{col 18}{res}{space 2} .0575497{col 30}{space 2} .0335341{col 41}{space 1}    1.72{col 50}{space 3}0.086{col 58}{space 4}-.0081765{col 71}{space 3} .1232759
{txt}{space 12}b114 {c |}{col 18}{res}{space 2}-.0492898{col 30}{space 2} .0328403{col 41}{space 1}   -1.50{col 50}{space 3}0.133{col 58}{space 4}-.1136562{col 71}{space 3} .0150766
{txt}{space 12}b115 {c |}{col 18}{res}{space 2} .0630064{col 30}{space 2} .0326966{col 41}{space 1}    1.93{col 50}{space 3}0.054{col 58}{space 4}-.0010782{col 71}{space 3}  .127091
{txt}{space 12}b116 {c |}{col 18}{res}{space 2} .0856999{col 30}{space 2} .0321591{col 41}{space 1}    2.66{col 50}{space 3}0.008{col 58}{space 4} .0226688{col 71}{space 3}  .148731
{txt}{space 12}b117 {c |}{col 18}{res}{space 2} .0683201{col 30}{space 2} .0325335{col 41}{space 1}    2.10{col 50}{space 3}0.036{col 58}{space 4}  .004555{col 71}{space 3} .1320851
{txt}{space 12}b118 {c |}{col 18}{res}{space 2} .0963852{col 30}{space 2} .0321467{col 41}{space 1}    3.00{col 50}{space 3}0.003{col 58}{space 4} .0333784{col 71}{space 3}  .159392
{txt}{space 12}b119 {c |}{col 18}{res}{space 2} .0467859{col 30}{space 2}  .031913{col 41}{space 1}    1.47{col 50}{space 3}0.143{col 58}{space 4}-.0157628{col 71}{space 3} .1093347
{txt}{space 12}b120 {c |}{col 18}{res}{space 2} .0448663{col 30}{space 2} .0315644{col 41}{space 1}    1.42{col 50}{space 3}0.155{col 58}{space 4}-.0169993{col 71}{space 3} .1067319
{txt}{space 12}b121 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 12}b122 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 12}b123 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 12}b124 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 12}b125 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 12}b126 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 12}b127 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 12}b128 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 12}b129 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 12}b130 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 12}b131 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 12}b132 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}_cons {c |}{col 18}{res}{space 2}-.6197108{col 30}{space 2} .3788543{col 41}{space 1}   -1.64{col 50}{space 3}0.102{col 58}{space 4}-1.362257{col 71}{space 3} .1228356
{txt}{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
         sigma_u {c |} {res}  .6746702
         {txt}sigma_e {c |} {res} .71242396
             {txt}rho {c |} {res} .47280227{txt}   (fraction of variance due to u_i)
{hline 17}{c BT}{hline 64}
F test that all u_i=0: F({res}197438{txt}, {res}158760{txt}) = {res}1.23{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}. 
. set seed 987654321
{txt}
{com}. 
. *Wild bootstrap, country cluster, restricted
.                 boottest        {c -(}1.presub2a{c )-} {c -(}1.presub1a{c )-} {c -(}1.sub1a{c )-} {c -(}1.sub2a{c )-}  {c -(}1.postsub1a{c )-} {c -(}1.postsub2a{c )-}, cluster(country) nograph  reps (999999) weight (webb)
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(country)
{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.presub2a

{txt}{col 41}t(7) = {res}    1.7015
{col 37}{txt}Prob>|t| = {res}    0.5081

95%{txt} confidence set for null hypothesis expression: [{res}-4.246{txt}, {res}2.137{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.presub1a

{txt}{col 41}t(7) = {res}   -2.5117
{col 37}{txt}Prob>|t| = {res}    0.1193

95%{txt} confidence set for null hypothesis expression: [{res}-1.095{txt}, {res}.824{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.sub1a

{txt}{col 41}t(7) = {res}    5.9174
{col 37}{txt}Prob>|t| = {res}    0.1629

95%{txt} confidence set for null hypothesis expression: [{res}-.5317{txt}, {res}2.199{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.sub2a

{txt}{col 41}t(7) = {res}    3.2478
{col 37}{txt}Prob>|t| = {res}    0.3027

95%{txt} confidence set for null hypothesis expression: [{res}-1.114{txt}, {res}1.837{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.postsub1a

{txt}{col 41}t(7) = {res}    0.0921
{col 37}{txt}Prob>|t| = {res}    0.9245

95%{txt} confidence set for null hypothesis expression: [{res}-.9371{txt}, {res}.7705{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.postsub2a

{txt}{col 41}t(7) = {res}   -3.2912
{col 37}{txt}Prob>|t| = {res}    0.4095

95%{txt} confidence set for null hypothesis expression: [{res}-4.035{txt}, {res}1.903{txt}]
{res}{txt}
{com}. *Wild bootstrap, country cluster, unrestricted
.                 boottest        {c -(}1.presub2a{c )-} {c -(}1.presub1a{c )-} {c -(}1.sub1a{c )-} {c -(}1.sub2a{c )-}  {c -(}1.postsub1a{c )-} {c -(}1.postsub2a{c )-}, cluster(country) nograph  reps (999999) weight (webb)       nonull  
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(country)
{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.presub2a

{txt}{col 41}t(7) = {res}    1.7015
{col 37}{txt}Prob>|t| = {res}    0.1797

95%{txt} confidence set for null hypothesis expression: [{res}-.1257{txt}, {res}.5681{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.presub1a

{txt}{col 41}t(7) = {res}   -2.5117
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}-.1647{txt}, {res}-.05786{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.sub1a

{txt}{col 41}t(7) = {res}    5.9174
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}.2895{txt}, {res}.4745{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.sub2a

{txt}{col 41}t(7) = {res}    3.2478
{col 37}{txt}Prob>|t| = {res}    0.0002

95%{txt} confidence set for null hypothesis expression: [{res}.102{txt}, {res}.2883{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.postsub1a

{txt}{col 41}t(7) = {res}    0.0921
{col 37}{txt}Prob>|t| = {res}    0.9232

95%{txt} confidence set for null hypothesis expression: [{res}-.0559{txt}, {res}.06533{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.postsub2a

{txt}{col 41}t(7) = {res}   -3.2912
{col 37}{txt}Prob>|t| = {res}    0.0855

95%{txt} confidence set for null hypothesis expression: [{res}-.9691{txt}, {res}.1449{txt}]
{res}{txt}
{com}. *Wild bootstrap, country-date cluster, restricted
.                 boottest        {c -(}1.presub2a{c )-} {c -(}1.presub1a{c )-} {c -(}1.sub1a{c )-} {c -(}1.sub2a{c )-}  {c -(}1.postsub1a{c )-} {c -(}1.postsub2a{c )-}, cluster(cd)          nograph  noci
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(cd)

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.presub2a

{txt}{col 38}t(1199) = {res}    2.5889
{col 37}{txt}Prob>|t| = {res}    0.0881

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.presub1a

{txt}{col 38}t(1199) = {res}   -1.1030
{col 37}{txt}Prob>|t| = {res}    0.3554

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.sub1a

{txt}{col 38}t(1199) = {res}    5.9356
{col 37}{txt}Prob>|t| = {res}    0.0140

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.sub2a

{txt}{col 38}t(1199) = {res}    1.3684
{col 37}{txt}Prob>|t| = {res}    0.3353

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.postsub1a

{txt}{col 38}t(1199) = {res}    0.0500
{col 37}{txt}Prob>|t| = {res}    0.9600

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.postsub2a

{txt}{col 38}t(1199) = {res}   -4.3024
{col 37}{txt}Prob>|t| = {res}    0.0731
{txt}
{com}. *Wild bootstrap, country-date cluster, unrestricted
.                 boottest        {c -(}1.presub2a{c )-} {c -(}1.presub1a{c )-} {c -(}1.sub1a{c )-} {c -(}1.sub2a{c )-}  {c -(}1.postsub1a{c )-} {c -(}1.postsub2a{c )-}, cluster(cd)          nograph                                                                nonull  
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(cd)
{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.presub2a

{txt}{col 38}t(1199) = {res}    2.5889
{col 37}{txt}Prob>|t| = {res}    0.0010

95%{txt} confidence set for null hypothesis expression: [{res}.07841{txt}, {res}.364{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.presub1a

{txt}{col 38}t(1199) = {res}   -1.1030
{col 37}{txt}Prob>|t| = {res}    0.2863

95%{txt} confidence set for null hypothesis expression: [{res}-.3353{txt}, {res}.1128{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.sub1a

{txt}{col 38}t(1199) = {res}    5.9356
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}.286{txt}, {res}.478{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.sub2a

{txt}{col 38}t(1199) = {res}    1.3684
{col 37}{txt}Prob>|t| = {res}    0.1892

95%{txt} confidence set for null hypothesis expression: [{res}-.09575{txt}, {res}.4858{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.postsub1a

{txt}{col 38}t(1199) = {res}    0.0500
{col 37}{txt}Prob>|t| = {res}    0.9600

95%{txt} confidence set for null hypothesis expression: [{res}-.1621{txt}, {res}.1715{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.postsub2a

{txt}{col 38}t(1199) = {res}   -4.3024
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}-.6023{txt}, {res}-.2219{txt}]
{res}{txt}
{com}. *Subcluster bootstrap by product, restricted
.                 boottest        {c -(}1.presub2a{c )-} {c -(}1.presub1a{c )-} {c -(}1.sub1a{c )-} {c -(}1.sub2a{c )-}  {c -(}1.postsub1a{c )-} {c -(}1.postsub2a{c )-}, cluster(id)          nograph
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(id)
{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.presub2a

{txt}{col 38}t(8031) = {res}    0.8406
{col 37}{txt}Prob>|t| = {res}    0.2252

95%{txt} confidence set for null hypothesis expression: [{res}-.1543{txt}, {res}.5762{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.presub1a

{txt}{col 38}t(8031) = {res}   -0.4538
{col 37}{txt}Prob>|t| = {res}    0.5045

95%{txt} confidence set for null hypothesis expression: [{res}-.4578{txt}, {res}.2405{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.sub1a

{txt}{col 38}t(8031) = {res}    1.2286
{col 37}{txt}Prob>|t| = {res}    0.0901

95%{txt} confidence set for null hypothesis expression: [{res}-.06988{txt}, {res}.8314{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.sub2a

{txt}{col 38}t(8031) = {res}    0.8741
{col 37}{txt}Prob>|t| = {res}    0.1992

95%{txt} confidence set for null hypothesis expression: [{res}-.1036{txt}, {res}.504{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.postsub1a

{txt}{col 38}t(8031) = {res}    0.0209
{col 37}{txt}Prob>|t| = {res}    0.9770

95%{txt} confidence set for null hypothesis expression: [{res}-.3118{txt}, {res}.3084{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.postsub2a

{txt}{col 38}t(8031) = {res}   -1.5889
{col 37}{txt}Prob>|t| = {res}    0.0210

95%{txt} confidence set for null hypothesis expression: [{res}-.7643{txt}, {res}-.05919{txt}]
{res}{txt}
{com}. *Subcluster bootstrap by product, unrestricted
.                 boottest        {c -(}1.presub2a{c )-} {c -(}1.presub1a{c )-} {c -(}1.sub1a{c )-} {c -(}1.sub2a{c )-}  {c -(}1.postsub1a{c )-} {c -(}1.postsub2a{c )-}, cluster(id)          nograph                                                                nonull
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(id)
{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.presub2a

{txt}{col 38}t(8031) = {res}    0.8406
{col 37}{txt}Prob>|t| = {res}    0.2182

95%{txt} confidence set for null hypothesis expression: [{res}-.1184{txt}, {res}.5609{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.presub1a

{txt}{col 38}t(8031) = {res}   -0.4538
{col 37}{txt}Prob>|t| = {res}    0.5065

95%{txt} confidence set for null hypothesis expression: [{res}-.4239{txt}, {res}.2014{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.sub1a

{txt}{col 38}t(8031) = {res}    1.2286
{col 37}{txt}Prob>|t| = {res}    0.0841

95%{txt} confidence set for null hypothesis expression: [{res}-.05159{txt}, {res}.8164{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.sub2a

{txt}{col 38}t(8031) = {res}    0.8741
{col 37}{txt}Prob>|t| = {res}    0.1912

95%{txt} confidence set for null hypothesis expression: [{res}-.1088{txt}, {res}.4983{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.postsub1a

{txt}{col 38}t(8031) = {res}    0.0209
{col 37}{txt}Prob>|t| = {res}    0.9730

95%{txt} confidence set for null hypothesis expression: [{res}-.2997{txt}, {res}.3092{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.postsub2a

{txt}{col 38}t(8031) = {res}   -1.5889
{col 37}{txt}Prob>|t| = {res}    0.0310

95%{txt} confidence set for null hypothesis expression: [{res}-.7736{txt}, {res}-.05066{txt}]
{res}{txt}
{com}. *Subcluster bootstrap by country-product, restricted
.                 boottest        {c -(}1.presub2a{c )-} {c -(}1.presub1a{c )-} {c -(}1.sub1a{c )-} {c -(}1.sub2a{c )-}  {c -(}1.postsub1a{c )-} {c -(}1.postsub2a{c )-}, cluster(id1)         nograph   noci
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(id1)

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.presub2a

{txt}{col 37}t(19484) = {res}    1.1465
{col 37}{txt}Prob>|t| = {res}    0.2042

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.presub1a

{txt}{col 37}t(19484) = {res}   -0.6175
{col 37}{txt}Prob>|t| = {res}    0.4965

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.sub1a

{txt}{col 37}t(19484) = {res}    1.7161
{col 37}{txt}Prob>|t| = {res}    0.0781

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.sub2a

{txt}{col 37}t(19484) = {res}    1.1819
{col 37}{txt}Prob>|t| = {res}    0.2182

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.postsub1a

{txt}{col 37}t(19484) = {res}    0.0279
{col 37}{txt}Prob>|t| = {res}    0.9700

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.postsub2a

{txt}{col 37}t(19484) = {res}   -2.1908
{col 37}{txt}Prob>|t| = {res}    0.0160
{txt}
{com}. *Subcluster bootstrap by country-product, unrestricted
.                 boottest        {c -(}1.presub2a{c )-} {c -(}1.presub1a{c )-} {c -(}1.sub1a{c )-} {c -(}1.sub2a{c )-}  {c -(}1.postsub1a{c )-} {c -(}1.postsub2a{c )-}, cluster(id1)         nograph                                                                nonull
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(id1)
{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.presub2a

{txt}{col 37}t(19484) = {res}    1.1465
{col 37}{txt}Prob>|t| = {res}    0.2072

95%{txt} confidence set for null hypothesis expression: [{res}-.1243{txt}, {res}.5677{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.presub1a

{txt}{col 37}t(19484) = {res}   -0.6175
{col 37}{txt}Prob>|t| = {res}    0.4805

95%{txt} confidence set for null hypothesis expression: [{res}-.4367{txt}, {res}.215{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.sub1a

{txt}{col 37}t(19484) = {res}    1.7161
{col 37}{txt}Prob>|t| = {res}    0.0711

95%{txt} confidence set for null hypothesis expression: [{res}-.02465{txt}, {res}.7887{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.sub2a

{txt}{col 37}t(19484) = {res}    1.1819
{col 37}{txt}Prob>|t| = {res}    0.2072

95%{txt} confidence set for null hypothesis expression: [{res}-.1112{txt}, {res}.5016{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.postsub1a

{txt}{col 37}t(19484) = {res}    0.0279
{col 37}{txt}Prob>|t| = {res}    0.9690

95%{txt} confidence set for null hypothesis expression: [{res}-.2939{txt}, {res}.3033{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.postsub2a

{txt}{col 37}t(19484) = {res}   -2.1908
{col 37}{txt}Prob>|t| = {res}    0.0170

95%{txt} confidence set for null hypothesis expression: [{res}-.745{txt}, {res}-.07924{txt}]
{res}{txt}
{com}.                 
. restore
{txt}
{com}. 
. *++++++++++++++
. *+  HU, 2015 ++
. *+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
. 
. preserve 
{txt}
{com}. 
. egen cmt=group(country month treath)
{txt}(1740985 missing values generated)

{com}. tabulate cmt, gen(b)

{txt}group(count {c |}
   ry month {c |}
    treath) {c |}      Freq.     Percent        Cum.
{hline 12}{c +}{hline 35}
          1 {c |}{res}     11,108        1.44        1.44
{txt}          2 {c |}{res}         56        0.01        1.45
{txt}          3 {c |}{res}     10,511        1.36        2.81
{txt}          4 {c |}{res}         44        0.01        2.81
{txt}          5 {c |}{res}     10,511        1.36        4.17
{txt}          6 {c |}{res}         44        0.01        4.18
{txt}          7 {c |}{res}     10,511        1.36        5.54
{txt}          8 {c |}{res}         44        0.01        5.55
{txt}          9 {c |}{res}     10,511        1.36        6.91
{txt}         10 {c |}{res}         44        0.01        6.91
{txt}         11 {c |}{res}     10,511        1.36        8.27
{txt}         12 {c |}{res}         44        0.01        8.28
{txt}         13 {c |}{res}     10,511        1.36        9.64
{txt}         14 {c |}{res}         44        0.01        9.64
{txt}         15 {c |}{res}     10,511        1.36       11.01
{txt}         16 {c |}{res}         44        0.01       11.01
{txt}         17 {c |}{res}     10,511        1.36       12.37
{txt}         18 {c |}{res}         44        0.01       12.38
{txt}         19 {c |}{res}     10,511        1.36       13.74
{txt}         20 {c |}{res}         44        0.01       13.74
{txt}         21 {c |}{res}     10,511        1.36       15.11
{txt}         22 {c |}{res}         44        0.01       15.11
{txt}         23 {c |}{res}     10,511        1.36       16.47
{txt}         24 {c |}{res}         44        0.01       16.48
{txt}         25 {c |}{res}      5,856        0.76       17.24
{txt}         26 {c |}{res}         72        0.01       17.25
{txt}         27 {c |}{res}      5,586        0.72       17.97
{txt}         28 {c |}{res}         62        0.01       17.98
{txt}         29 {c |}{res}      5,586        0.72       18.70
{txt}         30 {c |}{res}         62        0.01       18.71
{txt}         31 {c |}{res}      5,586        0.72       19.43
{txt}         32 {c |}{res}         62        0.01       19.44
{txt}         33 {c |}{res}      5,586        0.72       20.16
{txt}         34 {c |}{res}         62        0.01       20.17
{txt}         35 {c |}{res}      5,586        0.72       20.89
{txt}         36 {c |}{res}         62        0.01       20.90
{txt}         37 {c |}{res}      5,586        0.72       21.62
{txt}         38 {c |}{res}         62        0.01       21.63
{txt}         39 {c |}{res}      5,586        0.72       22.36
{txt}         40 {c |}{res}         62        0.01       22.36
{txt}         41 {c |}{res}      5,586        0.72       23.09
{txt}         42 {c |}{res}         62        0.01       23.10
{txt}         43 {c |}{res}      5,586        0.72       23.82
{txt}         44 {c |}{res}         62        0.01       23.83
{txt}         45 {c |}{res}      5,586        0.72       24.55
{txt}         46 {c |}{res}         62        0.01       24.56
{txt}         47 {c |}{res}      5,586        0.72       25.28
{txt}         48 {c |}{res}         62        0.01       25.29
{txt}         49 {c |}{res}     11,605        1.50       26.79
{txt}         50 {c |}{res}     11,160        1.44       28.24
{txt}         51 {c |}{res}     11,160        1.44       29.68
{txt}         52 {c |}{res}     11,160        1.44       31.13
{txt}         53 {c |}{res}     11,160        1.44       32.57
{txt}         54 {c |}{res}     11,160        1.44       34.02
{txt}         55 {c |}{res}     11,160        1.44       35.46
{txt}         56 {c |}{res}     11,160        1.44       36.91
{txt}         57 {c |}{res}     11,160        1.44       38.35
{txt}         58 {c |}{res}     11,160        1.44       39.80
{txt}         59 {c |}{res}     11,160        1.44       41.24
{txt}         60 {c |}{res}     11,160        1.44       42.69
{txt}         61 {c |}{res}     11,570        1.50       44.18
{txt}         62 {c |}{res}     10,966        1.42       45.60
{txt}         63 {c |}{res}     10,966        1.42       47.02
{txt}         64 {c |}{res}     10,966        1.42       48.44
{txt}         65 {c |}{res}     10,966        1.42       49.86
{txt}         66 {c |}{res}     10,966        1.42       51.28
{txt}         67 {c |}{res}     10,966        1.42       52.70
{txt}         68 {c |}{res}     10,966        1.42       54.12
{txt}         69 {c |}{res}     10,966        1.42       55.54
{txt}         70 {c |}{res}     10,966        1.42       56.96
{txt}         71 {c |}{res}     10,966        1.42       58.38
{txt}         72 {c |}{res}     10,966        1.42       59.80
{txt}         73 {c |}{res}      8,281        1.07       60.87
{txt}         74 {c |}{res}      1,378        0.18       61.05
{txt}         75 {c |}{res}      8,075        1.05       62.10
{txt}         76 {c |}{res}      1,150        0.15       62.25
{txt}         77 {c |}{res}      8,075        1.05       63.29
{txt}         78 {c |}{res}      1,150        0.15       63.44
{txt}         79 {c |}{res}      8,075        1.05       64.49
{txt}         80 {c |}{res}      1,150        0.15       64.63
{txt}         81 {c |}{res}      8,075        1.05       65.68
{txt}         82 {c |}{res}      1,150        0.15       65.83
{txt}         83 {c |}{res}      8,075        1.05       66.87
{txt}         84 {c |}{res}      1,150        0.15       67.02
{txt}         85 {c |}{res}      8,075        1.05       68.07
{txt}         86 {c |}{res}      1,150        0.15       68.22
{txt}         87 {c |}{res}      8,075        1.05       69.26
{txt}         88 {c |}{res}      1,150        0.15       69.41
{txt}         89 {c |}{res}      8,075        1.05       70.46
{txt}         90 {c |}{res}      1,150        0.15       70.61
{txt}         91 {c |}{res}      8,075        1.05       71.65
{txt}         92 {c |}{res}      1,150        0.15       71.80
{txt}         93 {c |}{res}      8,075        1.05       72.85
{txt}         94 {c |}{res}      1,150        0.15       72.99
{txt}         95 {c |}{res}      8,075        1.05       74.04
{txt}         96 {c |}{res}      1,150        0.15       74.19
{txt}         97 {c |}{res}      7,420        0.96       75.15
{txt}         98 {c |}{res}      7,153        0.93       76.08
{txt}         99 {c |}{res}      7,153        0.93       77.00
{txt}        100 {c |}{res}      7,153        0.93       77.93
{txt}        101 {c |}{res}      7,153        0.93       78.85
{txt}        102 {c |}{res}      7,153        0.93       79.78
{txt}        103 {c |}{res}      7,153        0.93       80.71
{txt}        104 {c |}{res}      7,153        0.93       81.63
{txt}        105 {c |}{res}      7,153        0.93       82.56
{txt}        106 {c |}{res}      7,153        0.93       83.48
{txt}        107 {c |}{res}      7,153        0.93       84.41
{txt}        108 {c |}{res}      7,153        0.93       85.34
{txt}        109 {c |}{res}      4,071        0.53       85.86
{txt}        110 {c |}{res}      3,859        0.50       86.36
{txt}        111 {c |}{res}      3,859        0.50       86.86
{txt}        112 {c |}{res}      3,859        0.50       87.36
{txt}        113 {c |}{res}      3,859        0.50       87.86
{txt}        114 {c |}{res}      3,859        0.50       88.36
{txt}        115 {c |}{res}      3,859        0.50       88.86
{txt}        116 {c |}{res}      3,859        0.50       89.36
{txt}        117 {c |}{res}      3,859        0.50       89.86
{txt}        118 {c |}{res}      3,859        0.50       90.36
{txt}        119 {c |}{res}      3,859        0.50       90.86
{txt}        120 {c |}{res}      3,859        0.50       91.36
{txt}        121 {c |}{res}      5,782        0.75       92.11
{txt}        122 {c |}{res}      5,541        0.72       92.83
{txt}        123 {c |}{res}      5,541        0.72       93.54
{txt}        124 {c |}{res}      5,541        0.72       94.26
{txt}        125 {c |}{res}      5,541        0.72       94.98
{txt}        126 {c |}{res}      5,541        0.72       95.70
{txt}        127 {c |}{res}      5,541        0.72       96.41
{txt}        128 {c |}{res}      5,541        0.72       97.13
{txt}        129 {c |}{res}      5,541        0.72       97.85
{txt}        130 {c |}{res}      5,541        0.72       98.57
{txt}        131 {c |}{res}      5,541        0.72       99.28
{txt}        132 {c |}{res}      5,541        0.72      100.00
{txt}{hline 12}{c +}{hline 35}
      Total {c |}{res}    772,376      100.00
{txt}
{com}. 
. *Product
. reghdfe dlogunits i.presub3h##ib1.treath i.presub2h##ib1.treath i.presub1h##ib1.treath i.sub1h##ib1.treath i.sub2h##ib1.treath i.sub3h##ib1.treath i.sub4h##ib1.treath i.postsub1h##ib1.treath i.postsub2h##ib1.treath i.postsub3h##ib1.treath mage mage2  if country!="Croatia", absorb(id2 cmt) cluster(id) 
{res}{txt}(dropped 91941 {browse "http://scorreia.com/research/singletons.pdf":singleton observations})
{res}{txt}note: {res}0bn.treath{txt} is probably collinear with the fixed effects (all partialled-out values are close to zero; tol = 1.0e-09)
{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 14 iterations)
{res}{txt}note: 0.treath omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}   238,267
{txt}Absorbing 2 HDFE groups{col 51}F({res}  22{txt},{res}   6055{txt}){col 67}= {res}      5.91
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.4708
{txt}{col 51}Adj R-squared{col 67}= {res}    0.0850
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0007
{txt}{col 1}Number of clusters ({res}id{txt}) {col 30}= {res}     6,056{txt}{col 51}Root MSE{col 67}= {res}    0.7164

{txt}{ralign 82:(Std. Err. adjusted for {res:6,056} clusters in id)}
{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 18}{c |}{col 30}    Robust
{col 1}       dlogunits{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      t{col 50}   P>|t|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 6}1.presub3h {c |}{col 18}{res}{space 2} .1020651{col 30}{space 2} .0788437{col 41}{space 1}    1.29{col 50}{space 3}0.196{col 58}{space 4}-.0524967{col 71}{space 3} .2566268
{txt}{space 8}0.treath {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 16} {c |}
{space 1}presub3h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.0145665{col 30}{space 2} .1474372{col 41}{space 1}   -0.10{col 50}{space 3}0.921{col 58}{space 4}-.3035958{col 71}{space 3} .2744628
{txt}{space 16} {c |}
{space 6}1.presub2h {c |}{col 18}{res}{space 2} .0369795{col 30}{space 2} .0804984{col 41}{space 1}    0.46{col 50}{space 3}0.646{col 58}{space 4} -.120826{col 71}{space 3}  .194785
{txt}{space 16} {c |}
{space 1}presub2h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .0149663{col 30}{space 2} .1379377{col 41}{space 1}    0.11{col 50}{space 3}0.914{col 58}{space 4}-.2554407{col 71}{space 3} .2853734
{txt}{space 16} {c |}
{space 6}1.presub1h {c |}{col 18}{res}{space 2}-.0285368{col 30}{space 2} .0764639{col 41}{space 1}   -0.37{col 50}{space 3}0.709{col 58}{space 4}-.1784332{col 71}{space 3} .1213597
{txt}{space 16} {c |}
{space 1}presub1h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .0088698{col 30}{space 2} .1395385{col 41}{space 1}    0.06{col 50}{space 3}0.949{col 58}{space 4}-.2646754{col 71}{space 3} .2824149
{txt}{space 16} {c |}
{space 9}1.sub1h {c |}{col 18}{res}{space 2} .1394809{col 30}{space 2} .0698375{col 41}{space 1}    2.00{col 50}{space 3}0.046{col 58}{space 4} .0025744{col 71}{space 3} .2763873
{txt}{space 16} {c |}
{space 4}sub1h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.1199456{col 30}{space 2} .1378666{col 41}{space 1}   -0.87{col 50}{space 3}0.384{col 58}{space 4}-.3902132{col 71}{space 3}  .150322
{txt}{space 16} {c |}
{space 9}1.sub2h {c |}{col 18}{res}{space 2} .3822326{col 30}{space 2} .0699266{col 41}{space 1}    5.47{col 50}{space 3}0.000{col 58}{space 4} .2451517{col 71}{space 3} .5193136
{txt}{space 16} {c |}
{space 4}sub2h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.1500111{col 30}{space 2} .1476908{col 41}{space 1}   -1.02{col 50}{space 3}0.310{col 58}{space 4}-.4395377{col 71}{space 3} .1395155
{txt}{space 16} {c |}
{space 9}1.sub3h {c |}{col 18}{res}{space 2}-.2227195{col 30}{space 2}  .067533{col 41}{space 1}   -3.30{col 50}{space 3}0.001{col 58}{space 4}-.3551083{col 71}{space 3}-.0903307
{txt}{space 16} {c |}
{space 4}sub3h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}  .068075{col 30}{space 2} .1126173{col 41}{space 1}    0.60{col 50}{space 3}0.546{col 58}{space 4} -.152695{col 71}{space 3} .2888451
{txt}{space 16} {c |}
{space 9}1.sub4h {c |}{col 18}{res}{space 2} -.144892{col 30}{space 2} .0673952{col 41}{space 1}   -2.15{col 50}{space 3}0.032{col 58}{space 4}-.2770106{col 71}{space 3}-.0127734
{txt}{space 16} {c |}
{space 4}sub4h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .1233862{col 30}{space 2} .1218648{col 41}{space 1}    1.01{col 50}{space 3}0.311{col 58}{space 4}-.1155122{col 71}{space 3} .3622846
{txt}{space 16} {c |}
{space 5}1.postsub1h {c |}{col 18}{res}{space 2}-.1535928{col 30}{space 2} .0857083{col 41}{space 1}   -1.79{col 50}{space 3}0.073{col 58}{space 4}-.3216117{col 71}{space 3}  .014426
{txt}{space 16} {c |}
postsub1h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}  .227757{col 30}{space 2} .1394641{col 41}{space 1}    1.63{col 50}{space 3}0.103{col 58}{space 4}-.0456423{col 71}{space 3} .5011564
{txt}{space 16} {c |}
{space 5}1.postsub2h {c |}{col 18}{res}{space 2}-.1079265{col 30}{space 2} .0741513{col 41}{space 1}   -1.46{col 50}{space 3}0.146{col 58}{space 4}-.2532894{col 71}{space 3} .0374364
{txt}{space 16} {c |}
postsub2h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} -.165648{col 30}{space 2} .1444691{col 41}{space 1}   -1.15{col 50}{space 3}0.252{col 58}{space 4}-.4488588{col 71}{space 3} .1175628
{txt}{space 16} {c |}
{space 5}1.postsub3h {c |}{col 18}{res}{space 2}  .017041{col 30}{space 2} .0804346{col 41}{space 1}    0.21{col 50}{space 3}0.832{col 58}{space 4}-.1406394{col 71}{space 3} .1747215
{txt}{space 16} {c |}
postsub3h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .1466745{col 30}{space 2} .1425964{col 41}{space 1}    1.03{col 50}{space 3}0.304{col 58}{space 4}-.1328651{col 71}{space 3} .4262142
{txt}{space 16} {c |}
{space 12}mage {c |}{col 18}{res}{space 2}-.0045613{col 30}{space 2} .0006317{col 41}{space 1}   -7.22{col 50}{space 3}0.000{col 58}{space 4}-.0057997{col 71}{space 3} -.003323
{txt}{space 11}mage2 {c |}{col 18}{res}{space 2}  .000043{col 30}{space 2} 7.74e-06{col 41}{space 1}    5.55{col 50}{space 3}0.000{col 58}{space 4} .0000278{col 71}{space 3} .0000582
{txt}{space 11}_cons {c |}{col 18}{res}{space 2} .0496127{col 30}{space 2} .0096977{col 41}{space 1}    5.12{col 50}{space 3}0.000{col 58}{space 4} .0306018{col 71}{space 3} .0686236
{txt}{hline 17}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}         id2{col 14}{c |}{space 1}   100336{col 27}{space 1}   100336{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}         cmt{col 14}{c |}{space 1}      108{col 27}{space 1}        0{col 39}{result}{space 1}      108{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}. est store subu
{txt}
{com}. 
. *Country-date
. reghdfe dlogunits i.presub3h##ib1.treath i.presub2h##ib1.treath i.presub1h##ib1.treath i.sub1h##ib1.treath i.sub2h##ib1.treath i.sub3h##ib1.treath i.sub4h##ib1.treath i.postsub1h##ib1.treath i.postsub2h##ib1.treath i.postsub3h##ib1.treath mage mage2  if country!="Croatia", absorb(id2 cmt) cluster(cd) 
{res}{txt}(dropped 91941 {browse "http://scorreia.com/research/singletons.pdf":singleton observations})
{res}{txt}note: {res}0bn.treath{txt} is probably collinear with the fixed effects (all partialled-out values are close to zero; tol = 1.0e-09)
{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 14 iterations)
{res}{txt}note: 0.treath omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}   238,267
{txt}Absorbing 2 HDFE groups{col 51}F({res}  22{txt},{res}   1043{txt}){col 67}= {res}      7.48
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.4708
{txt}{col 51}Adj R-squared{col 67}= {res}    0.0851
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0007
{txt}{col 1}Number of clusters ({res}cd{txt}) {col 30}= {res}     1,044{txt}{col 51}Root MSE{col 67}= {res}    0.7164

{txt}{ralign 82:(Std. Err. adjusted for {res:1,044} clusters in cd)}
{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 18}{c |}{col 30}    Robust
{col 1}       dlogunits{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      t{col 50}   P>|t|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 6}1.presub3h {c |}{col 18}{res}{space 2} .1020651{col 30}{space 2} .0613862{col 41}{space 1}    1.66{col 50}{space 3}0.097{col 58}{space 4}-.0183894{col 71}{space 3} .2225195
{txt}{space 8}0.treath {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 16} {c |}
{space 1}presub3h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.0145665{col 30}{space 2} .1149179{col 41}{space 1}   -0.13{col 50}{space 3}0.899{col 58}{space 4}-.2400632{col 71}{space 3} .2109302
{txt}{space 16} {c |}
{space 6}1.presub2h {c |}{col 18}{res}{space 2} .0369795{col 30}{space 2} .0610699{col 41}{space 1}    0.61{col 50}{space 3}0.545{col 58}{space 4}-.0828543{col 71}{space 3} .1568133
{txt}{space 16} {c |}
{space 1}presub2h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .0149663{col 30}{space 2} .0848334{col 41}{space 1}    0.18{col 50}{space 3}0.860{col 58}{space 4}-.1514973{col 71}{space 3}   .18143
{txt}{space 16} {c |}
{space 6}1.presub1h {c |}{col 18}{res}{space 2}-.0285368{col 30}{space 2} .1033705{col 41}{space 1}   -0.28{col 50}{space 3}0.783{col 58}{space 4}-.2313747{col 71}{space 3} .1743012
{txt}{space 16} {c |}
{space 1}presub1h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .0088698{col 30}{space 2} .1090634{col 41}{space 1}    0.08{col 50}{space 3}0.935{col 58}{space 4} -.205139{col 71}{space 3} .2228785
{txt}{space 16} {c |}
{space 9}1.sub1h {c |}{col 18}{res}{space 2} .1394809{col 30}{space 2} .0597767{col 41}{space 1}    2.33{col 50}{space 3}0.020{col 58}{space 4} .0221845{col 71}{space 3} .2567772
{txt}{space 16} {c |}
{space 4}sub1h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.1199456{col 30}{space 2} .0782781{col 41}{space 1}   -1.53{col 50}{space 3}0.126{col 58}{space 4}-.2735461{col 71}{space 3} .0336549
{txt}{space 16} {c |}
{space 9}1.sub2h {c |}{col 18}{res}{space 2} .3822326{col 30}{space 2} .0492744{col 41}{space 1}    7.76{col 50}{space 3}0.000{col 58}{space 4} .2855445{col 71}{space 3} .4789208
{txt}{space 16} {c |}
{space 4}sub2h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.1500111{col 30}{space 2}   .09781{col 41}{space 1}   -1.53{col 50}{space 3}0.125{col 58}{space 4}-.3419379{col 71}{space 3} .0419157
{txt}{space 16} {c |}
{space 9}1.sub3h {c |}{col 18}{res}{space 2}-.2227195{col 30}{space 2} .0555105{col 41}{space 1}   -4.01{col 50}{space 3}0.000{col 58}{space 4}-.3316444{col 71}{space 3}-.1137946
{txt}{space 16} {c |}
{space 4}sub3h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}  .068075{col 30}{space 2} .0771253{col 41}{space 1}    0.88{col 50}{space 3}0.378{col 58}{space 4}-.0832633{col 71}{space 3} .2194134
{txt}{space 16} {c |}
{space 9}1.sub4h {c |}{col 18}{res}{space 2} -.144892{col 30}{space 2} .0508204{col 41}{space 1}   -2.85{col 50}{space 3}0.004{col 58}{space 4} -.244614{col 71}{space 3}-.0451701
{txt}{space 16} {c |}
{space 4}sub4h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .1233862{col 30}{space 2} .0842478{col 41}{space 1}    1.46{col 50}{space 3}0.143{col 58}{space 4}-.0419284{col 71}{space 3} .2887007
{txt}{space 16} {c |}
{space 5}1.postsub1h {c |}{col 18}{res}{space 2}-.1535928{col 30}{space 2} .0650321{col 41}{space 1}   -2.36{col 50}{space 3}0.018{col 58}{space 4}-.2812016{col 71}{space 3}-.0259841
{txt}{space 16} {c |}
postsub1h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}  .227757{col 30}{space 2} .0669056{col 41}{space 1}    3.40{col 50}{space 3}0.001{col 58}{space 4} .0964721{col 71}{space 3}  .359042
{txt}{space 16} {c |}
{space 5}1.postsub2h {c |}{col 18}{res}{space 2}-.1079265{col 30}{space 2} .0482709{col 41}{space 1}   -2.24{col 50}{space 3}0.026{col 58}{space 4}-.2026456{col 71}{space 3}-.0132074
{txt}{space 16} {c |}
postsub2h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} -.165648{col 30}{space 2} .0941014{col 41}{space 1}   -1.76{col 50}{space 3}0.079{col 58}{space 4}-.3502976{col 71}{space 3} .0190015
{txt}{space 16} {c |}
{space 5}1.postsub3h {c |}{col 18}{res}{space 2}  .017041{col 30}{space 2} .0524468{col 41}{space 1}    0.32{col 50}{space 3}0.745{col 58}{space 4}-.0858722{col 71}{space 3} .1199543
{txt}{space 16} {c |}
postsub3h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .1466745{col 30}{space 2} .0927505{col 41}{space 1}    1.58{col 50}{space 3}0.114{col 58}{space 4}-.0353244{col 71}{space 3} .3286734
{txt}{space 16} {c |}
{space 12}mage {c |}{col 18}{res}{space 2}-.0045613{col 30}{space 2} .0010732{col 41}{space 1}   -4.25{col 50}{space 3}0.000{col 58}{space 4}-.0066673{col 71}{space 3}-.0024554
{txt}{space 11}mage2 {c |}{col 18}{res}{space 2}  .000043{col 30}{space 2} .0000134{col 41}{space 1}    3.21{col 50}{space 3}0.001{col 58}{space 4} .0000167{col 71}{space 3} .0000692
{txt}{space 11}_cons {c |}{col 18}{res}{space 2} .0496127{col 30}{space 2} .0167423{col 41}{space 1}    2.96{col 50}{space 3}0.003{col 58}{space 4} .0167602{col 71}{space 3} .0824652
{txt}{hline 17}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}         id2{col 14}{c |}{space 1}   100336{col 27}{space 1}        0{col 39}{result}{space 1}   100336{col 53}{text} {col 54}{c |}
{res}{col 1}{text}         cmt{col 14}{c |}{space 1}      108{col 27}{space 1}       12{col 39}{result}{space 1}       96{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
{res}{txt}
{com}. est store subu1
{txt}
{com}. 
. *Country
. reghdfe dlogunits i.presub3h##ib1.treath i.presub2h##ib1.treath i.presub1h##ib1.treath i.sub1h##ib1.treath i.sub2h##ib1.treath i.sub3h##ib1.treath i.sub4h##ib1.treath i.postsub1h##ib1.treath i.postsub2h##ib1.treath i.postsub3h##ib1.treath mage mage2  if country!="Croatia", absorb(id2 cmt) cluster(country) 
{res}{txt}(dropped 91941 {browse "http://scorreia.com/research/singletons.pdf":singleton observations})
{res}{txt}note: {res}0bn.treath{txt} is probably collinear with the fixed effects (all partialled-out values are close to zero; tol = 1.0e-09)
{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 14 iterations)
{res}{txt}warning: missing F statistic; dropped variables due to collinearity or too few clusters
{txt}note: 0.treath omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}   238,267
{txt}Absorbing 2 HDFE groups{col 51}{help j_robustsingular##|_new:F(  22,      6)}{col 67}=          {res}.
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}=          {res}.
{txt}{col 51}R-squared{col 67}= {res}    0.4708
{txt}{col 51}Adj R-squared{col 67}= {res}    0.0850
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0007
{txt}{col 1}Number of clusters ({res}country{txt}) {col 30}= {res}         7{txt}{col 51}Root MSE{col 67}= {res}    0.7164

{txt}{ralign 82:(Std. Err. adjusted for {res:7} clusters in country)}
{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 18}{c |}{col 30}    Robust
{col 1}       dlogunits{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      t{col 50}   P>|t|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 6}1.presub3h {c |}{col 18}{res}{space 2} .1020651{col 30}{space 2} .0746316{col 41}{space 1}    1.37{col 50}{space 3}0.220{col 58}{space 4}-.0805518{col 71}{space 3} .2846819
{txt}{space 8}0.treath {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 16} {c |}
{space 1}presub3h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.0145665{col 30}{space 2} .1286561{col 41}{space 1}   -0.11{col 50}{space 3}0.914{col 58}{space 4}-.3293767{col 71}{space 3} .3002437
{txt}{space 16} {c |}
{space 6}1.presub2h {c |}{col 18}{res}{space 2} .0369795{col 30}{space 2} .0517931{col 41}{space 1}    0.71{col 50}{space 3}0.502{col 58}{space 4}-.0897536{col 71}{space 3} .1637125
{txt}{space 16} {c |}
{space 1}presub2h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .0149663{col 30}{space 2} .0832648{col 41}{space 1}    0.18{col 50}{space 3}0.863{col 58}{space 4}-.1887752{col 71}{space 3} .2187079
{txt}{space 16} {c |}
{space 6}1.presub1h {c |}{col 18}{res}{space 2}-.0285368{col 30}{space 2} .0753986{col 41}{space 1}   -0.38{col 50}{space 3}0.718{col 58}{space 4}-.2130304{col 71}{space 3} .1559569
{txt}{space 16} {c |}
{space 1}presub1h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .0088698{col 30}{space 2} .0658463{col 41}{space 1}    0.13{col 50}{space 3}0.897{col 58}{space 4}-.1522502{col 71}{space 3} .1699898
{txt}{space 16} {c |}
{space 9}1.sub1h {c |}{col 18}{res}{space 2} .1394809{col 30}{space 2} .0653538{col 41}{space 1}    2.13{col 50}{space 3}0.077{col 58}{space 4}-.0204341{col 71}{space 3} .2993958
{txt}{space 16} {c |}
{space 4}sub1h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.1199456{col 30}{space 2}  .094545{col 41}{space 1}   -1.27{col 50}{space 3}0.252{col 58}{space 4} -.351289{col 71}{space 3} .1113978
{txt}{space 16} {c |}
{space 9}1.sub2h {c |}{col 18}{res}{space 2} .3822326{col 30}{space 2} .0435613{col 41}{space 1}    8.77{col 50}{space 3}0.000{col 58}{space 4} .2756419{col 71}{space 3} .4888234
{txt}{space 16} {c |}
{space 4}sub2h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.1500111{col 30}{space 2} .1266813{col 41}{space 1}   -1.18{col 50}{space 3}0.281{col 58}{space 4}-.4599891{col 71}{space 3} .1599669
{txt}{space 16} {c |}
{space 9}1.sub3h {c |}{col 18}{res}{space 2}-.2227195{col 30}{space 2} .0515668{col 41}{space 1}   -4.32{col 50}{space 3}0.005{col 58}{space 4} -.348899{col 71}{space 3}  -.09654
{txt}{space 16} {c |}
{space 4}sub3h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}  .068075{col 30}{space 2} .0755532{col 41}{space 1}    0.90{col 50}{space 3}0.402{col 58}{space 4} -.116797{col 71}{space 3} .2529471
{txt}{space 16} {c |}
{space 9}1.sub4h {c |}{col 18}{res}{space 2} -.144892{col 30}{space 2} .0275658{col 41}{space 1}   -5.26{col 50}{space 3}0.002{col 58}{space 4} -.212343{col 71}{space 3} -.077441
{txt}{space 16} {c |}
{space 4}sub4h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .1233862{col 30}{space 2} .1049743{col 41}{space 1}    1.18{col 50}{space 3}0.284{col 58}{space 4}-.1334768{col 71}{space 3} .3802491
{txt}{space 16} {c |}
{space 5}1.postsub1h {c |}{col 18}{res}{space 2}-.1535928{col 30}{space 2} .0485871{col 41}{space 1}   -3.16{col 50}{space 3}0.020{col 58}{space 4}-.2724811{col 71}{space 3}-.0347046
{txt}{space 16} {c |}
postsub1h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}  .227757{col 30}{space 2} .0498855{col 41}{space 1}    4.57{col 50}{space 3}0.004{col 58}{space 4} .1056915{col 71}{space 3} .3498225
{txt}{space 16} {c |}
{space 5}1.postsub2h {c |}{col 18}{res}{space 2}-.1079265{col 30}{space 2} .0681263{col 41}{space 1}   -1.58{col 50}{space 3}0.164{col 58}{space 4}-.2746255{col 71}{space 3} .0587726
{txt}{space 16} {c |}
postsub2h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} -.165648{col 30}{space 2} .1150209{col 41}{space 1}   -1.44{col 50}{space 3}0.200{col 58}{space 4}-.4470941{col 71}{space 3}  .115798
{txt}{space 16} {c |}
{space 5}1.postsub3h {c |}{col 18}{res}{space 2}  .017041{col 30}{space 2} .0544656{col 41}{space 1}    0.31{col 50}{space 3}0.765{col 58}{space 4}-.1162316{col 71}{space 3} .1503137
{txt}{space 16} {c |}
postsub3h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .1466745{col 30}{space 2} .0932619{col 41}{space 1}    1.57{col 50}{space 3}0.167{col 58}{space 4}-.0815292{col 71}{space 3} .3748782
{txt}{space 16} {c |}
{space 12}mage {c |}{col 18}{res}{space 2}-.0045613{col 30}{space 2}  .001053{col 41}{space 1}   -4.33{col 50}{space 3}0.005{col 58}{space 4} -.007138{col 71}{space 3}-.0019846
{txt}{space 11}mage2 {c |}{col 18}{res}{space 2}  .000043{col 30}{space 2} .0000114{col 41}{space 1}    3.79{col 50}{space 3}0.009{col 58}{space 4} .0000152{col 71}{space 3} .0000708
{txt}{space 11}_cons {c |}{col 18}{res}{space 2} .0496127{col 30}{space 2} .0166772{col 41}{space 1}    2.97{col 50}{space 3}0.025{col 58}{space 4} .0088051{col 71}{space 3} .0904202
{txt}{hline 17}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}         id2{col 14}{c |}{space 1}   100336{col 27}{space 1}        0{col 39}{result}{space 1}   100336{col 53}{text} {col 54}{c |}
{res}{col 1}{text}         cmt{col 14}{c |}{space 1}      108{col 27}{space 1}      108{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}. est store subu2
{txt}
{com}. 
. *Country and id
. reghdfe dlogunits i.presub3h##ib1.treath i.presub2h##ib1.treath i.presub1h##ib1.treath i.sub1h##ib1.treath i.sub2h##ib1.treath i.sub3h##ib1.treath i.sub4h##ib1.treath i.postsub1h##ib1.treath i.postsub2h##ib1.treath i.postsub3h##ib1.treath mage mage2  if country!="Croatia", absorb(id2 cmt) cluster(country id) 
{res}{txt}(dropped 91941 {browse "http://scorreia.com/research/singletons.pdf":singleton observations})
{res}{txt}note: {res}0bn.treath{txt} is probably collinear with the fixed effects (all partialled-out values are close to zero; tol = 1.0e-09)
{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 14 iterations)
{res}{txt}Warning: VCV matrix was non-positive semi-definite; adjustment from Cameron, Gelbach & Miller applied.
{txt}note: 0.treath omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}   238,267
{txt}Absorbing 2 HDFE groups{col 51}F({res}  22{txt},{res}      6{txt}){col 67}= {res}      7.99
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0080
{txt}{col 51}R-squared{col 67}= {res}    0.4708
{txt}{col 51}Adj R-squared{col 67}= {res}    0.0850
{txt}{col 1}Number of clusters ({res}country{txt}) {col 30}= {res}         7{txt}{col 51}Within R-sq.{col 67}= {res}    0.0007
{txt}{col 1}Number of clusters ({res}id{txt}) {col 30}= {res}     6,056{txt}{col 51}Root MSE{col 67}= {res}    0.7164

{txt}{ralign 82:(Std. Err. adjusted for {res:7} clusters in country id)}
{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 18}{c |}{col 30}    Robust
{col 1}       dlogunits{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      t{col 50}   P>|t|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 6}1.presub3h {c |}{col 18}{res}{space 2} .1020651{col 30}{space 2} .0773321{col 41}{space 1}    1.32{col 50}{space 3}0.235{col 58}{space 4}-.0871598{col 71}{space 3} .2912899
{txt}{space 8}0.treath {c |}{col 18}{res}{space 2}        0{col 30}{space 2} 5.69e-17{col 41}{space 1}    0.00{col 50}{space 3}1.000{col 58}{space 4}-1.39e-16{col 71}{space 3} 1.39e-16
{txt}{space 16} {c |}
{space 1}presub3h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.0145665{col 30}{space 2} .1382057{col 41}{space 1}   -0.11{col 50}{space 3}0.919{col 58}{space 4}-.3527438{col 71}{space 3} .3236108
{txt}{space 16} {c |}
{space 6}1.presub2h {c |}{col 18}{res}{space 2} .0369795{col 30}{space 2} .0647886{col 41}{space 1}    0.57{col 50}{space 3}0.589{col 58}{space 4}-.1215525{col 71}{space 3} .1955115
{txt}{space 16} {c |}
{space 1}presub2h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .0149663{col 30}{space 2} .1094785{col 41}{space 1}    0.14{col 50}{space 3}0.896{col 58}{space 4}-.2529179{col 71}{space 3} .2828506
{txt}{space 16} {c |}
{space 6}1.presub1h {c |}{col 18}{res}{space 2}-.0285368{col 30}{space 2}  .077443{col 41}{space 1}   -0.37{col 50}{space 3}0.725{col 58}{space 4} -.218033{col 71}{space 3} .1609594
{txt}{space 16} {c |}
{space 1}presub1h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .0088698{col 30}{space 2} .1049838{col 41}{space 1}    0.08{col 50}{space 3}0.935{col 58}{space 4}-.2480162{col 71}{space 3} .2657558
{txt}{space 16} {c |}
{space 9}1.sub1h {c |}{col 18}{res}{space 2} .1394809{col 30}{space 2} .0672228{col 41}{space 1}    2.07{col 50}{space 3}0.083{col 58}{space 4}-.0250075{col 71}{space 3} .3039692
{txt}{space 16} {c |}
{space 4}sub1h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.1199456{col 30}{space 2} .1157041{col 41}{space 1}   -1.04{col 50}{space 3}0.340{col 58}{space 4}-.4030633{col 71}{space 3} .1631721
{txt}{space 16} {c |}
{space 9}1.sub2h {c |}{col 18}{res}{space 2} .3822326{col 30}{space 2} .0587302{col 41}{space 1}    6.51{col 50}{space 3}0.001{col 58}{space 4}  .238525{col 71}{space 3} .5259402
{txt}{space 16} {c |}
{space 4}sub2h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.1500111{col 30}{space 2} .1419093{col 41}{space 1}   -1.06{col 50}{space 3}0.331{col 58}{space 4}-.4972507{col 71}{space 3} .1972285
{txt}{space 16} {c |}
{space 9}1.sub3h {c |}{col 18}{res}{space 2}-.2227195{col 30}{space 2} .0602277{col 41}{space 1}   -3.70{col 50}{space 3}0.010{col 58}{space 4}-.3700914{col 71}{space 3}-.0753476
{txt}{space 16} {c |}
{space 4}sub3h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}  .068075{col 30}{space 2} .0950196{col 41}{space 1}    0.72{col 50}{space 3}0.501{col 58}{space 4}-.1644296{col 71}{space 3} .3005797
{txt}{space 16} {c |}
{space 9}1.sub4h {c |}{col 18}{res}{space 2} -.144892{col 30}{space 2} .0498178{col 41}{space 1}   -2.91{col 50}{space 3}0.027{col 58}{space 4}-.2667918{col 71}{space 3}-.0229922
{txt}{space 16} {c |}
{space 4}sub4h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .1233862{col 30}{space 2} .1136745{col 41}{space 1}    1.09{col 50}{space 3}0.319{col 58}{space 4}-.1547652{col 71}{space 3} .4015376
{txt}{space 16} {c |}
{space 5}1.postsub1h {c |}{col 18}{res}{space 2}-.1535928{col 30}{space 2} .0700136{col 41}{space 1}   -2.19{col 50}{space 3}0.071{col 58}{space 4}  -.32491{col 71}{space 3} .0177243
{txt}{space 16} {c |}
postsub1h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}  .227757{col 30}{space 2} .0977088{col 41}{space 1}    2.33{col 50}{space 3}0.059{col 58}{space 4}-.0113278{col 71}{space 3} .4668418
{txt}{space 16} {c |}
{space 5}1.postsub2h {c |}{col 18}{res}{space 2}-.1079265{col 30}{space 2} .0717532{col 41}{space 1}   -1.50{col 50}{space 3}0.183{col 58}{space 4}-.2835003{col 71}{space 3} .0676474
{txt}{space 16} {c |}
postsub2h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} -.165648{col 30}{space 2}  .129153{col 41}{space 1}   -1.28{col 50}{space 3}0.247{col 58}{space 4} -.481674{col 71}{space 3} .1503779
{txt}{space 16} {c |}
{space 5}1.postsub3h {c |}{col 18}{res}{space 2}  .017041{col 30}{space 2} .0679166{col 41}{space 1}    0.25{col 50}{space 3}0.810{col 58}{space 4}-.1491449{col 71}{space 3} .1832269
{txt}{space 16} {c |}
postsub3h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .1466745{col 30}{space 2} .1122401{col 41}{space 1}    1.31{col 50}{space 3}0.239{col 58}{space 4} -.127967{col 71}{space 3}  .421316
{txt}{space 16} {c |}
{space 12}mage {c |}{col 18}{res}{space 2}-.0045613{col 30}{space 2} .0008969{col 41}{space 1}   -5.09{col 50}{space 3}0.002{col 58}{space 4} -.006756{col 71}{space 3}-.0023666
{txt}{space 11}mage2 {c |}{col 18}{res}{space 2}  .000043{col 30}{space 2} 9.95e-06{col 41}{space 1}    4.32{col 50}{space 3}0.005{col 58}{space 4} .0000186{col 71}{space 3} .0000673
{txt}{space 11}_cons {c |}{col 18}{res}{space 2} .0496127{col 30}{space 2}   .01405{col 41}{space 1}    3.53{col 50}{space 3}0.012{col 58}{space 4} .0152335{col 71}{space 3} .0839919
{txt}{hline 17}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}         id2{col 14}{c |}{space 1}   100336{col 27}{space 1}   100336{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}         cmt{col 14}{c |}{space 1}      108{col 27}{space 1}      108{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}. est store subu3
{txt}
{com}. 
. esttab   subu subu2 subu1 subu3  , se star(* 0.10 ** 0.05 *** 0.01) mtitles nogaps  scalars(N ) order(1.presub2h 1.presub1h 1.sub1h 1.sub2h 1.sub3h 1.sub4h 1.postsub1h 1.postsub2h) keep(1.presub2h 1.presub1h 1.sub1h 1.sub2h 1.sub3h 1.sub4h 1.postsub1h 1.postsub2h)
{res}
{txt}{hline 76}
{txt}                      (1)             (2)             (3)             (4)   
{txt}                     subu           subu2           subu1           subu3   
{txt}{hline 76}
{txt}1.presub2h  {res}       0.0370          0.0370          0.0370          0.0370   {txt}
            {res} {ralign 12:{txt:(}0.0805{txt:)}}    {ralign 12:{txt:(}0.0518{txt:)}}    {ralign 12:{txt:(}0.0611{txt:)}}    {ralign 12:{txt:(}0.0648{txt:)}}   {txt}
{txt}1.presub1h  {res}      -0.0285         -0.0285         -0.0285         -0.0285   {txt}
            {res} {ralign 12:{txt:(}0.0765{txt:)}}    {ralign 12:{txt:(}0.0754{txt:)}}    {ralign 12:{txt:(}0.103{txt:)}}    {ralign 12:{txt:(}0.0774{txt:)}}   {txt}
{txt}1.sub1h     {res}        0.139**         0.139*          0.139**         0.139*  {txt}
            {res} {ralign 12:{txt:(}0.0698{txt:)}}    {ralign 12:{txt:(}0.0654{txt:)}}    {ralign 12:{txt:(}0.0598{txt:)}}    {ralign 12:{txt:(}0.0672{txt:)}}   {txt}
{txt}1.sub2h     {res}        0.382***        0.382***        0.382***        0.382***{txt}
            {res} {ralign 12:{txt:(}0.0699{txt:)}}    {ralign 12:{txt:(}0.0436{txt:)}}    {ralign 12:{txt:(}0.0493{txt:)}}    {ralign 12:{txt:(}0.0587{txt:)}}   {txt}
{txt}1.sub3h     {res}       -0.223***       -0.223***       -0.223***       -0.223** {txt}
            {res} {ralign 12:{txt:(}0.0675{txt:)}}    {ralign 12:{txt:(}0.0516{txt:)}}    {ralign 12:{txt:(}0.0555{txt:)}}    {ralign 12:{txt:(}0.0602{txt:)}}   {txt}
{txt}1.sub4h     {res}       -0.145**        -0.145***       -0.145***       -0.145** {txt}
            {res} {ralign 12:{txt:(}0.0674{txt:)}}    {ralign 12:{txt:(}0.0276{txt:)}}    {ralign 12:{txt:(}0.0508{txt:)}}    {ralign 12:{txt:(}0.0498{txt:)}}   {txt}
{txt}1.postsub1h {res}       -0.154*         -0.154**        -0.154**        -0.154*  {txt}
            {res} {ralign 12:{txt:(}0.0857{txt:)}}    {ralign 12:{txt:(}0.0486{txt:)}}    {ralign 12:{txt:(}0.0650{txt:)}}    {ralign 12:{txt:(}0.0700{txt:)}}   {txt}
{txt}1.postsub2h {res}       -0.108          -0.108          -0.108**        -0.108   {txt}
            {res} {ralign 12:{txt:(}0.0742{txt:)}}    {ralign 12:{txt:(}0.0681{txt:)}}    {ralign 12:{txt:(}0.0483{txt:)}}    {ralign 12:{txt:(}0.0718{txt:)}}   {txt}
{txt}{hline 76}
{txt}N           {res}       238267          238267          238267          238267   {txt}
{txt}{hline 76}
{txt}Standard errors in parentheses
{txt}* p<0.10, ** p<0.05, *** p<0.01

{com}. 
. 
. xtset id2
{txt}{col 8}panel variable:  {res}id2 (unbalanced)
{txt}
{com}. 
. xtreg dlogunits i.presub3h##ib1.treath i.presub2h##ib1.treath i.presub1h##ib1.treath i.sub1h##ib1.treath i.sub2h##ib1.treath i.sub3h##ib1.treath i.sub4h##ib1.treath i.postsub1h##ib1.treath i.postsub2h##ib1.treath i.postsub3h##ib1.treath mage mage2 b1-b132  if country!="Croatia", fe
{p 0 6 2}{txt}note: b25 omitted because of collinearity{p_end}
{p 0 6 2}note: b26 omitted because of collinearity{p_end}
{p 0 6 2}note: b27 omitted because of collinearity{p_end}
{p 0 6 2}note: b28 omitted because of collinearity{p_end}
{p 0 6 2}note: b29 omitted because of collinearity{p_end}
{p 0 6 2}note: b30 omitted because of collinearity{p_end}
{p 0 6 2}note: b31 omitted because of collinearity{p_end}
{p 0 6 2}note: b32 omitted because of collinearity{p_end}
{p 0 6 2}note: b33 omitted because of collinearity{p_end}
{p 0 6 2}note: b34 omitted because of collinearity{p_end}
{p 0 6 2}note: b35 omitted because of collinearity{p_end}
{p 0 6 2}note: b36 omitted because of collinearity{p_end}
{p 0 6 2}note: b37 omitted because of collinearity{p_end}
{p 0 6 2}note: b38 omitted because of collinearity{p_end}
{p 0 6 2}note: b39 omitted because of collinearity{p_end}
{p 0 6 2}note: b40 omitted because of collinearity{p_end}
{p 0 6 2}note: b41 omitted because of collinearity{p_end}
{p 0 6 2}note: b42 omitted because of collinearity{p_end}
{p 0 6 2}note: b43 omitted because of collinearity{p_end}
{p 0 6 2}note: b44 omitted because of collinearity{p_end}
{p 0 6 2}note: b45 omitted because of collinearity{p_end}
{p 0 6 2}note: b46 omitted because of collinearity{p_end}
{p 0 6 2}note: b47 omitted because of collinearity{p_end}
{p 0 6 2}note: b48 omitted because of collinearity{p_end}
{p 0 6 2}note: b96 omitted because of collinearity{p_end}
{p 0 6 2}note: b121 omitted because of collinearity{p_end}
{p 0 6 2}note: b122 omitted because of collinearity{p_end}
{p 0 6 2}note: b123 omitted because of collinearity{p_end}
{p 0 6 2}note: b124 omitted because of collinearity{p_end}
{p 0 6 2}note: b125 omitted because of collinearity{p_end}
{p 0 6 2}note: b126 omitted because of collinearity{p_end}
{p 0 6 2}note: b127 omitted because of collinearity{p_end}
{p 0 6 2}note: b128 omitted because of collinearity{p_end}
{p 0 6 2}note: b129 omitted because of collinearity{p_end}
{p 0 6 2}note: b130 omitted because of collinearity{p_end}
{p 0 6 2}note: b131 omitted because of collinearity{p_end}
{p 0 6 2}note: b132 omitted because of collinearity{p_end}
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}   330,208
{txt}Group variable: {res}id2{txt}{col 49}Number of groups{col 67}={col 69}{res}   192,277

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.0099{col 63}{txt}min{col 67}={col 69}{res}         1
{txt}     between = {res}0.0236{col 63}{txt}avg{col 67}={col 69}{res}       1.7
{txt}     overall = {res}0.0207{col 63}{txt}max{col 67}={col 69}{res}         7

{txt}{col 49}F({res}118{txt},{res}137813{txt}){col 67}={col 70}{res}    11.72
{txt}corr(u_i, Xb){col 16}= {res}-0.0373{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       dlogunits{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      t{col 50}   P>|t|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 6}1.presub3h {c |}{col 18}{res}{space 2} .1020651{col 30}{space 2} .0852411{col 41}{space 1}    1.20{col 50}{space 3}0.231{col 58}{space 4}-.0650059{col 71}{space 3}  .269136
{txt}{space 8}0.treath {c |}{col 18}{res}{space 2} .0640679{col 30}{space 2} .0485736{col 41}{space 1}    1.32{col 50}{space 3}0.187{col 58}{space 4}-.0311354{col 71}{space 3} .1592712
{txt}{space 16} {c |}
{space 1}presub3h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.0145665{col 30}{space 2}  .148531{col 41}{space 1}   -0.10{col 50}{space 3}0.922{col 58}{space 4}-.3056846{col 71}{space 3} .2765516
{txt}{space 16} {c |}
{space 6}1.presub2h {c |}{col 18}{res}{space 2} .0369795{col 30}{space 2} .0828116{col 41}{space 1}    0.45{col 50}{space 3}0.655{col 58}{space 4}-.1253297{col 71}{space 3} .1992887
{txt}{space 16} {c |}
{space 1}presub2h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .0149663{col 30}{space 2} .1478819{col 41}{space 1}    0.10{col 50}{space 3}0.919{col 58}{space 4}-.2748795{col 71}{space 3} .3048122
{txt}{space 16} {c |}
{space 6}1.presub1h {c |}{col 18}{res}{space 2}-.0285368{col 30}{space 2} .0828606{col 41}{space 1}   -0.34{col 50}{space 3}0.731{col 58}{space 4}-.1909419{col 71}{space 3} .1338684
{txt}{space 16} {c |}
{space 1}presub1h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .0088698{col 30}{space 2}  .149075{col 41}{space 1}    0.06{col 50}{space 3}0.953{col 58}{space 4}-.2833144{col 71}{space 3}  .301054
{txt}{space 16} {c |}
{space 9}1.sub1h {c |}{col 18}{res}{space 2} .1394809{col 30}{space 2} .0796161{col 41}{space 1}    1.75{col 50}{space 3}0.080{col 58}{space 4}-.0165653{col 71}{space 3}  .295527
{txt}{space 16} {c |}
{space 4}sub1h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.1199456{col 30}{space 2} .1383964{col 41}{space 1}   -0.87{col 50}{space 3}0.386{col 58}{space 4}   -.3912{col 71}{space 3} .1513088
{txt}{space 16} {c |}
{space 9}1.sub2h {c |}{col 18}{res}{space 2} .3822326{col 30}{space 2} .0768914{col 41}{space 1}    4.97{col 50}{space 3}0.000{col 58}{space 4}  .231527{col 71}{space 3} .5329383
{txt}{space 16} {c |}
{space 4}sub2h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.1500111{col 30}{space 2} .1407314{col 41}{space 1}   -1.07{col 50}{space 3}0.286{col 58}{space 4} -.425842{col 71}{space 3} .1258198
{txt}{space 16} {c |}
{space 9}1.sub3h {c |}{col 18}{res}{space 2}-.2227195{col 30}{space 2} .0772911{col 41}{space 1}   -2.88{col 50}{space 3}0.004{col 58}{space 4}-.3742086{col 71}{space 3}-.0712304
{txt}{space 16} {c |}
{space 4}sub3h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}  .068075{col 30}{space 2} .1322078{col 41}{space 1}    0.51{col 50}{space 3}0.607{col 58}{space 4}-.1910497{col 71}{space 3} .3271998
{txt}{space 16} {c |}
{space 9}1.sub4h {c |}{col 18}{res}{space 2} -.144892{col 30}{space 2} .0777016{col 41}{space 1}   -1.86{col 50}{space 3}0.062{col 58}{space 4}-.2971856{col 71}{space 3} .0074016
{txt}{space 16} {c |}
{space 4}sub4h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .1233862{col 30}{space 2} .1328135{col 41}{space 1}    0.93{col 50}{space 3}0.353{col 58}{space 4}-.1369258{col 71}{space 3} .3836982
{txt}{space 16} {c |}
{space 5}1.postsub1h {c |}{col 18}{res}{space 2}-.1535928{col 30}{space 2} .0853333{col 41}{space 1}   -1.80{col 50}{space 3}0.072{col 58}{space 4}-.3208444{col 71}{space 3} .0136588
{txt}{space 16} {c |}
postsub1h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}  .227757{col 30}{space 2} .1441457{col 41}{space 1}    1.58{col 50}{space 3}0.114{col 58}{space 4}-.0547659{col 71}{space 3} .5102799
{txt}{space 16} {c |}
{space 5}1.postsub2h {c |}{col 18}{res}{space 2}-.1079265{col 30}{space 2} .0851194{col 41}{space 1}   -1.27{col 50}{space 3}0.205{col 58}{space 4} -.274759{col 71}{space 3}  .058906
{txt}{space 16} {c |}
postsub2h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} -.165648{col 30}{space 2} .1426226{col 41}{space 1}   -1.16{col 50}{space 3}0.245{col 58}{space 4}-.4451856{col 71}{space 3} .1138896
{txt}{space 16} {c |}
{space 5}1.postsub3h {c |}{col 18}{res}{space 2}  .017041{col 30}{space 2} .0858544{col 41}{space 1}    0.20{col 50}{space 3}0.843{col 58}{space 4}-.1512321{col 71}{space 3} .1853141
{txt}{space 16} {c |}
postsub3h#treath {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .1466745{col 30}{space 2} .1515211{col 41}{space 1}    0.97{col 50}{space 3}0.333{col 58}{space 4}-.1503041{col 71}{space 3} .4436531
{txt}{space 16} {c |}
{space 12}mage {c |}{col 18}{res}{space 2}-.0045613{col 30}{space 2} .0009055{col 41}{space 1}   -5.04{col 50}{space 3}0.000{col 58}{space 4}-.0063361{col 71}{space 3}-.0027865
{txt}{space 11}mage2 {c |}{col 18}{res}{space 2}  .000043{col 30}{space 2} .0000123{col 41}{space 1}    3.51{col 50}{space 3}0.000{col 58}{space 4}  .000019{col 71}{space 3}  .000067
{txt}{space 14}b1 {c |}{col 18}{res}{space 2} .3510423{col 30}{space 2} .0306357{col 41}{space 1}   11.46{col 50}{space 3}0.000{col 58}{space 4}  .290997{col 71}{space 3} .4110876
{txt}{space 14}b2 {c |}{col 18}{res}{space 2} .1217025{col 30}{space 2} .1582191{col 41}{space 1}    0.77{col 50}{space 3}0.442{col 58}{space 4} -.188404{col 71}{space 3} .4318089
{txt}{space 14}b3 {c |}{col 18}{res}{space 2}-.1201039{col 30}{space 2} .0317875{col 41}{space 1}   -3.78{col 50}{space 3}0.000{col 58}{space 4}-.1824067{col 71}{space 3}-.0578011
{txt}{space 14}b4 {c |}{col 18}{res}{space 2} .0280588{col 30}{space 2} .1900775{col 41}{space 1}    0.15{col 50}{space 3}0.883{col 58}{space 4}-.3444895{col 71}{space 3} .4006071
{txt}{space 14}b5 {c |}{col 18}{res}{space 2}-.0090845{col 30}{space 2} .0321188{col 41}{space 1}   -0.28{col 50}{space 3}0.777{col 58}{space 4}-.0720368{col 71}{space 3} .0538677
{txt}{space 14}b6 {c |}{col 18}{res}{space 2} .1386043{col 30}{space 2} .1787682{col 41}{space 1}    0.78{col 50}{space 3}0.438{col 58}{space 4}-.2117781{col 71}{space 3} .4889866
{txt}{space 14}b7 {c |}{col 18}{res}{space 2}-.1074108{col 30}{space 2} .0320852{col 41}{space 1}   -3.35{col 50}{space 3}0.001{col 58}{space 4}-.1702971{col 71}{space 3}-.0445244
{txt}{space 14}b8 {c |}{col 18}{res}{space 2}-.1532175{col 30}{space 2} .1743816{col 41}{space 1}   -0.88{col 50}{space 3}0.380{col 58}{space 4}-.4950021{col 71}{space 3} .1885671
{txt}{space 14}b9 {c |}{col 18}{res}{space 2} .1027816{col 30}{space 2} .0320571{col 41}{space 1}    3.21{col 50}{space 3}0.001{col 58}{space 4} .0399503{col 71}{space 3} .1656129
{txt}{space 13}b10 {c |}{col 18}{res}{space 2} .3738933{col 30}{space 2} .1714073{col 41}{space 1}    2.18{col 50}{space 3}0.029{col 58}{space 4} .0379383{col 71}{space 3} .7098483
{txt}{space 13}b11 {c |}{col 18}{res}{space 2}-.1547611{col 30}{space 2} .0317345{col 41}{space 1}   -4.88{col 50}{space 3}0.000{col 58}{space 4}-.2169602{col 71}{space 3}-.0925621
{txt}{space 13}b12 {c |}{col 18}{res}{space 2} .1409939{col 30}{space 2} .1669454{col 41}{space 1}    0.84{col 50}{space 3}0.398{col 58}{space 4} -.186216{col 71}{space 3} .4682038
{txt}{space 13}b13 {c |}{col 18}{res}{space 2} .1433014{col 30}{space 2} .0316827{col 41}{space 1}    4.52{col 50}{space 3}0.000{col 58}{space 4}  .081204{col 71}{space 3} .2053989
{txt}{space 13}b14 {c |}{col 18}{res}{space 2} .0884421{col 30}{space 2} .1662142{col 41}{space 1}    0.53{col 50}{space 3}0.595{col 58}{space 4}-.2373345{col 71}{space 3} .4142187
{txt}{space 13}b15 {c |}{col 18}{res}{space 2}-.1128489{col 30}{space 2} .0312512{col 41}{space 1}   -3.61{col 50}{space 3}0.000{col 58}{space 4}-.1741008{col 71}{space 3}-.0515971
{txt}{space 13}b16 {c |}{col 18}{res}{space 2}-.0479087{col 30}{space 2} .1636988{col 41}{space 1}   -0.29{col 50}{space 3}0.770{col 58}{space 4}-.3687553{col 71}{space 3} .2729378
{txt}{space 13}b17 {c |}{col 18}{res}{space 2} .0014294{col 30}{space 2} .0315504{col 41}{space 1}    0.05{col 50}{space 3}0.964{col 58}{space 4}-.0604088{col 71}{space 3} .0632676
{txt}{space 13}b18 {c |}{col 18}{res}{space 2} .0151075{col 30}{space 2} .1659207{col 41}{space 1}    0.09{col 50}{space 3}0.927{col 58}{space 4}-.3100939{col 71}{space 3} .3403089
{txt}{space 13}b19 {c |}{col 18}{res}{space 2} .0746127{col 30}{space 2} .0306829{col 41}{space 1}    2.43{col 50}{space 3}0.015{col 58}{space 4} .0144747{col 71}{space 3} .1347506
{txt}{space 13}b20 {c |}{col 18}{res}{space 2} .0271257{col 30}{space 2} .1581123{col 41}{space 1}    0.17{col 50}{space 3}0.864{col 58}{space 4}-.2827714{col 71}{space 3} .3370228
{txt}{space 13}b21 {c |}{col 18}{res}{space 2}-.0054456{col 30}{space 2} .0306273{col 41}{space 1}   -0.18{col 50}{space 3}0.859{col 58}{space 4}-.0654745{col 71}{space 3} .0545834
{txt}{space 13}b22 {c |}{col 18}{res}{space 2} .1239847{col 30}{space 2} .1536386{col 41}{space 1}    0.81{col 50}{space 3}0.420{col 58}{space 4} -.177144{col 71}{space 3} .4251134
{txt}{space 13}b23 {c |}{col 18}{res}{space 2}-.1384751{col 30}{space 2} .0304524{col 41}{space 1}   -4.55{col 50}{space 3}0.000{col 58}{space 4}-.1981613{col 71}{space 3}-.0787889
{txt}{space 13}b24 {c |}{col 18}{res}{space 2} .0171461{col 30}{space 2} .1539927{col 41}{space 1}    0.11{col 50}{space 3}0.911{col 58}{space 4}-.2846767{col 71}{space 3}  .318969
{txt}{space 13}b25 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 13}b26 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 13}b27 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 13}b28 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 13}b29 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 13}b30 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 13}b31 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 13}b32 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 13}b33 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 13}b34 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 13}b35 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 13}b36 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 13}b37 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 13}b38 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 13}b39 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 13}b40 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 13}b41 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 13}b42 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 13}b43 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 13}b44 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 13}b45 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 13}b46 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 13}b47 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 13}b48 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 13}b49 {c |}{col 18}{res}{space 2} .3166936{col 30}{space 2}  .026446{col 41}{space 1}   11.98{col 50}{space 3}0.000{col 58}{space 4}   .26486{col 71}{space 3} .3685272
{txt}{space 13}b50 {c |}{col 18}{res}{space 2}-.2294105{col 30}{space 2} .0278238{col 41}{space 1}   -8.25{col 50}{space 3}0.000{col 58}{space 4}-.2839446{col 71}{space 3}-.1748764
{txt}{space 13}b51 {c |}{col 18}{res}{space 2} .0267887{col 30}{space 2} .0279942{col 41}{space 1}    0.96{col 50}{space 3}0.339{col 58}{space 4}-.0280795{col 71}{space 3} .0816568
{txt}{space 13}b52 {c |}{col 18}{res}{space 2} .0144834{col 30}{space 2} .0280905{col 41}{space 1}    0.52{col 50}{space 3}0.606{col 58}{space 4}-.0405735{col 71}{space 3} .0695403
{txt}{space 13}b53 {c |}{col 18}{res}{space 2} .0817116{col 30}{space 2} .0279399{col 41}{space 1}    2.92{col 50}{space 3}0.003{col 58}{space 4}   .02695{col 71}{space 3} .1364732
{txt}{space 13}b54 {c |}{col 18}{res}{space 2}-.1102152{col 30}{space 2} .0276628{col 41}{space 1}   -3.98{col 50}{space 3}0.000{col 58}{space 4}-.1644338{col 71}{space 3}-.0559965
{txt}{space 13}b55 {c |}{col 18}{res}{space 2} .1526554{col 30}{space 2} .0272462{col 41}{space 1}    5.60{col 50}{space 3}0.000{col 58}{space 4} .0992533{col 71}{space 3} .2060575
{txt}{space 13}b56 {c |}{col 18}{res}{space 2}-.0416455{col 30}{space 2} .0270687{col 41}{space 1}   -1.54{col 50}{space 3}0.124{col 58}{space 4}-.0946997{col 71}{space 3} .0114087
{txt}{space 13}b57 {c |}{col 18}{res}{space 2} .0076701{col 30}{space 2} .0270498{col 41}{space 1}    0.28{col 50}{space 3}0.777{col 58}{space 4}-.0453469{col 71}{space 3} .0606872
{txt}{space 13}b58 {c |}{col 18}{res}{space 2}  .105715{col 30}{space 2}  .026909{col 41}{space 1}    3.93{col 50}{space 3}0.000{col 58}{space 4} .0529738{col 71}{space 3} .1584562
{txt}{space 13}b59 {c |}{col 18}{res}{space 2} .0389755{col 30}{space 2} .0267106{col 41}{space 1}    1.46{col 50}{space 3}0.145{col 58}{space 4}-.0133768{col 71}{space 3} .0913278
{txt}{space 13}b60 {c |}{col 18}{res}{space 2}-.0973738{col 30}{space 2} .0264665{col 41}{space 1}   -3.68{col 50}{space 3}0.000{col 58}{space 4}-.1492477{col 71}{space 3}-.0454998
{txt}{space 13}b61 {c |}{col 18}{res}{space 2} .4208611{col 30}{space 2}  .029998{col 41}{space 1}   14.03{col 50}{space 3}0.000{col 58}{space 4} .3620656{col 71}{space 3} .4796566
{txt}{space 13}b62 {c |}{col 18}{res}{space 2}-.1592338{col 30}{space 2} .0312355{col 41}{space 1}   -5.10{col 50}{space 3}0.000{col 58}{space 4}-.2204548{col 71}{space 3}-.0980129
{txt}{space 13}b63 {c |}{col 18}{res}{space 2}-.0402743{col 30}{space 2} .0315213{col 41}{space 1}   -1.28{col 50}{space 3}0.201{col 58}{space 4}-.1020556{col 71}{space 3} .0215069
{txt}{space 13}b64 {c |}{col 18}{res}{space 2}-.0893924{col 30}{space 2} .0315424{col 41}{space 1}   -2.83{col 50}{space 3}0.005{col 58}{space 4}-.1512149{col 71}{space 3}-.0275698
{txt}{space 13}b65 {c |}{col 18}{res}{space 2} .1262402{col 30}{space 2} .0314359{col 41}{space 1}    4.02{col 50}{space 3}0.000{col 58}{space 4} .0646265{col 71}{space 3} .1878539
{txt}{space 13}b66 {c |}{col 18}{res}{space 2}-.1634917{col 30}{space 2} .0311915{col 41}{space 1}   -5.24{col 50}{space 3}0.000{col 58}{space 4}-.2246265{col 71}{space 3}-.1023569
{txt}{space 13}b67 {c |}{col 18}{res}{space 2} .1715116{col 30}{space 2} .0309571{col 41}{space 1}    5.54{col 50}{space 3}0.000{col 58}{space 4} .1108364{col 71}{space 3} .2321869
{txt}{space 13}b68 {c |}{col 18}{res}{space 2}-.1424182{col 30}{space 2} .0305932{col 41}{space 1}   -4.66{col 50}{space 3}0.000{col 58}{space 4}-.2023804{col 71}{space 3}-.0824561
{txt}{space 13}b69 {c |}{col 18}{res}{space 2}-.0457073{col 30}{space 2} .0308043{col 41}{space 1}   -1.48{col 50}{space 3}0.138{col 58}{space 4}-.1060831{col 71}{space 3} .0146685
{txt}{space 13}b70 {c |}{col 18}{res}{space 2} .0908597{col 30}{space 2} .0302348{col 41}{space 1}    3.01{col 50}{space 3}0.003{col 58}{space 4}    .0316{col 71}{space 3} .1501194
{txt}{space 13}b71 {c |}{col 18}{res}{space 2}-.1292985{col 30}{space 2} .0300903{col 41}{space 1}   -4.30{col 50}{space 3}0.000{col 58}{space 4} -.188275{col 71}{space 3} -.070322
{txt}{space 13}b72 {c |}{col 18}{res}{space 2}-.1379016{col 30}{space 2} .0299449{col 41}{space 1}   -4.61{col 50}{space 3}0.000{col 58}{space 4}-.1965931{col 71}{space 3}-.0792102
{txt}{space 13}b73 {c |}{col 18}{res}{space 2} .0546073{col 30}{space 2} .0287615{col 41}{space 1}    1.90{col 50}{space 3}0.058{col 58}{space 4}-.0017647{col 71}{space 3} .1109793
{txt}{space 13}b74 {c |}{col 18}{res}{space 2} .0788482{col 30}{space 2} .0683284{col 41}{space 1}    1.15{col 50}{space 3}0.249{col 58}{space 4}-.0550742{col 71}{space 3} .2127706
{txt}{space 13}b75 {c |}{col 18}{res}{space 2} -.086019{col 30}{space 2} .0302545{col 41}{space 1}   -2.84{col 50}{space 3}0.004{col 58}{space 4}-.1453172{col 71}{space 3}-.0267208
{txt}{space 13}b76 {c |}{col 18}{res}{space 2} .0170988{col 30}{space 2} .0768573{col 41}{space 1}    0.22{col 50}{space 3}0.824{col 58}{space 4}-.1335401{col 71}{space 3} .1677376
{txt}{space 13}b77 {c |}{col 18}{res}{space 2} .0111883{col 30}{space 2} .0303688{col 41}{space 1}    0.37{col 50}{space 3}0.713{col 58}{space 4} -.048334{col 71}{space 3} .0707106
{txt}{space 13}b78 {c |}{col 18}{res}{space 2} .0468052{col 30}{space 2} .0763438{col 41}{space 1}    0.61{col 50}{space 3}0.540{col 58}{space 4}-.1028271{col 71}{space 3} .1964376
{txt}{space 13}b79 {c |}{col 18}{res}{space 2}-.1252257{col 30}{space 2} .0306325{col 41}{space 1}   -4.09{col 50}{space 3}0.000{col 58}{space 4}-.1852648{col 71}{space 3}-.0651866
{txt}{space 13}b80 {c |}{col 18}{res}{space 2}  .046027{col 30}{space 2} .0759628{col 41}{space 1}    0.61{col 50}{space 3}0.545{col 58}{space 4}-.1028587{col 71}{space 3} .1949126
{txt}{space 13}b81 {c |}{col 18}{res}{space 2} .1509374{col 30}{space 2} .0303181{col 41}{space 1}    4.98{col 50}{space 3}0.000{col 58}{space 4} .0915145{col 71}{space 3} .2103602
{txt}{space 13}b82 {c |}{col 18}{res}{space 2} .2969375{col 30}{space 2} .0676268{col 41}{space 1}    4.39{col 50}{space 3}0.000{col 58}{space 4} .1643904{col 71}{space 3} .4294847
{txt}{space 13}b83 {c |}{col 18}{res}{space 2}-.0848139{col 30}{space 2} .0299789{col 41}{space 1}   -2.83{col 50}{space 3}0.005{col 58}{space 4} -.143572{col 71}{space 3}-.0260558
{txt}{space 13}b84 {c |}{col 18}{res}{space 2}-.1265896{col 30}{space 2} .0669974{col 41}{space 1}   -1.89{col 50}{space 3}0.059{col 58}{space 4}-.2579032{col 71}{space 3} .0047241
{txt}{space 13}b85 {c |}{col 18}{res}{space 2} .1087214{col 30}{space 2} .0295829{col 41}{space 1}    3.68{col 50}{space 3}0.000{col 58}{space 4} .0507396{col 71}{space 3} .1667033
{txt}{space 13}b86 {c |}{col 18}{res}{space 2} .2402479{col 30}{space 2} .0710578{col 41}{space 1}    3.38{col 50}{space 3}0.001{col 58}{space 4}  .100976{col 71}{space 3} .3795198
{txt}{space 13}b87 {c |}{col 18}{res}{space 2}-.0957055{col 30}{space 2} .0293606{col 41}{space 1}   -3.26{col 50}{space 3}0.001{col 58}{space 4}-.1532517{col 71}{space 3}-.0381593
{txt}{space 13}b88 {c |}{col 18}{res}{space 2} .0126705{col 30}{space 2} .0704999{col 41}{space 1}    0.18{col 50}{space 3}0.857{col 58}{space 4} -.125508{col 71}{space 3}  .150849
{txt}{space 13}b89 {c |}{col 18}{res}{space 2}  .044947{col 30}{space 2} .0293553{col 41}{space 1}    1.53{col 50}{space 3}0.126{col 58}{space 4}-.0125889{col 71}{space 3} .1024828
{txt}{space 13}b90 {c |}{col 18}{res}{space 2} .1929719{col 30}{space 2} .0699761{col 41}{space 1}    2.76{col 50}{space 3}0.006{col 58}{space 4}   .05582{col 71}{space 3} .3301238
{txt}{space 13}b91 {c |}{col 18}{res}{space 2} .0866026{col 30}{space 2} .0292399{col 41}{space 1}    2.96{col 50}{space 3}0.003{col 58}{space 4}  .029293{col 71}{space 3} .1439123
{txt}{space 13}b92 {c |}{col 18}{res}{space 2}  .252507{col 30}{space 2} .0692316{col 41}{space 1}    3.65{col 50}{space 3}0.000{col 58}{space 4} .1168145{col 71}{space 3} .3881996
{txt}{space 13}b93 {c |}{col 18}{res}{space 2}-.0100823{col 30}{space 2} .0291111{col 41}{space 1}   -0.35{col 50}{space 3}0.729{col 58}{space 4}-.0671395{col 71}{space 3} .0469749
{txt}{space 13}b94 {c |}{col 18}{res}{space 2} .1298979{col 30}{space 2} .0686956{col 41}{space 1}    1.89{col 50}{space 3}0.059{col 58}{space 4}-.0047441{col 71}{space 3}   .26454
{txt}{space 13}b95 {c |}{col 18}{res}{space 2} .0257088{col 30}{space 2} .0287812{col 41}{space 1}    0.89{col 50}{space 3}0.372{col 58}{space 4}-.0307019{col 71}{space 3} .0821195
{txt}{space 13}b96 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 13}b97 {c |}{col 18}{res}{space 2} .1171133{col 30}{space 2} .0281412{col 41}{space 1}    4.16{col 50}{space 3}0.000{col 58}{space 4} .0619571{col 71}{space 3} .1722694
{txt}{space 13}b98 {c |}{col 18}{res}{space 2}-.0998994{col 30}{space 2}  .029718{col 41}{space 1}   -3.36{col 50}{space 3}0.001{col 58}{space 4}-.1581461{col 71}{space 3}-.0416528
{txt}{space 13}b99 {c |}{col 18}{res}{space 2} .0510303{col 30}{space 2} .0298869{col 41}{space 1}    1.71{col 50}{space 3}0.088{col 58}{space 4}-.0075474{col 71}{space 3}  .109608
{txt}{space 12}b100 {c |}{col 18}{res}{space 2}-.0971096{col 30}{space 2} .0298843{col 41}{space 1}   -3.25{col 50}{space 3}0.001{col 58}{space 4}-.1556823{col 71}{space 3}-.0385368
{txt}{space 12}b101 {c |}{col 18}{res}{space 2}  .165061{col 30}{space 2} .0298006{col 41}{space 1}    5.54{col 50}{space 3}0.000{col 58}{space 4} .1066525{col 71}{space 3} .2234696
{txt}{space 12}b102 {c |}{col 18}{res}{space 2}-.1557129{col 30}{space 2} .0294701{col 41}{space 1}   -5.28{col 50}{space 3}0.000{col 58}{space 4}-.2134738{col 71}{space 3} -.097952
{txt}{space 12}b103 {c |}{col 18}{res}{space 2} .3023313{col 30}{space 2} .0290628{col 41}{space 1}   10.40{col 50}{space 3}0.000{col 58}{space 4} .2453689{col 71}{space 3} .3592938
{txt}{space 12}b104 {c |}{col 18}{res}{space 2}-.0686963{col 30}{space 2} .0287213{col 41}{space 1}   -2.39{col 50}{space 3}0.017{col 58}{space 4}-.1249894{col 71}{space 3}-.0124032
{txt}{space 12}b105 {c |}{col 18}{res}{space 2}  .021944{col 30}{space 2} .0286685{col 41}{space 1}    0.77{col 50}{space 3}0.444{col 58}{space 4}-.0342457{col 71}{space 3} .0781336
{txt}{space 12}b106 {c |}{col 18}{res}{space 2} .0596037{col 30}{space 2} .0285038{col 41}{space 1}    2.09{col 50}{space 3}0.037{col 58}{space 4} .0037369{col 71}{space 3} .1154705
{txt}{space 12}b107 {c |}{col 18}{res}{space 2}-.0071329{col 30}{space 2} .0283625{col 41}{space 1}   -0.25{col 50}{space 3}0.801{col 58}{space 4}-.0627229{col 71}{space 3} .0484572
{txt}{space 12}b108 {c |}{col 18}{res}{space 2} .0155748{col 30}{space 2} .0282024{col 41}{space 1}    0.55{col 50}{space 3}0.581{col 58}{space 4}-.0397013{col 71}{space 3} .0708509
{txt}{space 12}b109 {c |}{col 18}{res}{space 2} .0256792{col 30}{space 2} .0343424{col 41}{space 1}    0.75{col 50}{space 3}0.455{col 58}{space 4}-.0416312{col 71}{space 3} .0929896
{txt}{space 12}b110 {c |}{col 18}{res}{space 2} .0168477{col 30}{space 2} .0358927{col 41}{space 1}    0.47{col 50}{space 3}0.639{col 58}{space 4}-.0535013{col 71}{space 3} .0871968
{txt}{space 12}b111 {c |}{col 18}{res}{space 2} .0833873{col 30}{space 2} .0362373{col 41}{space 1}    2.30{col 50}{space 3}0.021{col 58}{space 4} .0123629{col 71}{space 3} .1544118
{txt}{space 12}b112 {c |}{col 18}{res}{space 2}-.0781034{col 30}{space 2}  .036238{col 41}{space 1}   -2.16{col 50}{space 3}0.031{col 58}{space 4}-.1491292{col 71}{space 3}-.0070776
{txt}{space 12}b113 {c |}{col 18}{res}{space 2} .0555768{col 30}{space 2} .0363705{col 41}{space 1}    1.53{col 50}{space 3}0.126{col 58}{space 4}-.0157086{col 71}{space 3} .1268623
{txt}{space 12}b114 {c |}{col 18}{res}{space 2}-.0494905{col 30}{space 2} .0357281{col 41}{space 1}   -1.39{col 50}{space 3}0.166{col 58}{space 4}-.1195168{col 71}{space 3} .0205358
{txt}{space 12}b115 {c |}{col 18}{res}{space 2} .0668048{col 30}{space 2}  .035571{col 41}{space 1}    1.88{col 50}{space 3}0.060{col 58}{space 4}-.0029137{col 71}{space 3} .1365234
{txt}{space 12}b116 {c |}{col 18}{res}{space 2} .0822025{col 30}{space 2} .0349378{col 41}{space 1}    2.35{col 50}{space 3}0.019{col 58}{space 4} .0137251{col 71}{space 3}   .15068
{txt}{space 12}b117 {c |}{col 18}{res}{space 2} .0891557{col 30}{space 2} .0352382{col 41}{space 1}    2.53{col 50}{space 3}0.011{col 58}{space 4} .0200895{col 71}{space 3} .1582218
{txt}{space 12}b118 {c |}{col 18}{res}{space 2} .0683145{col 30}{space 2} .0348637{col 41}{space 1}    1.96{col 50}{space 3}0.050{col 58}{space 4}-.0000176{col 71}{space 3} .1366466
{txt}{space 12}b119 {c |}{col 18}{res}{space 2}  .048442{col 30}{space 2} .0346264{col 41}{space 1}    1.40{col 50}{space 3}0.162{col 58}{space 4}-.0194251{col 71}{space 3}  .116309
{txt}{space 12}b120 {c |}{col 18}{res}{space 2} .0405321{col 30}{space 2} .0343447{col 41}{space 1}    1.18{col 50}{space 3}0.238{col 58}{space 4}-.0267829{col 71}{space 3} .1078471
{txt}{space 12}b121 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 12}b122 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 12}b123 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 12}b124 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 12}b125 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 12}b126 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 12}b127 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 12}b128 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 12}b129 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 12}b130 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 12}b131 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 12}b132 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}_cons {c |}{col 18}{res}{space 2} -.026179{col 30}{space 2} .0498829{col 41}{space 1}   -0.52{col 50}{space 3}0.600{col 58}{space 4}-.1239485{col 71}{space 3} .0715905
{txt}{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
         sigma_u {c |} {res} .68552884
         {txt}sigma_e {c |} {res} .71639512
             {txt}rho {c |} {res} .47799359{txt}   (fraction of variance due to u_i)
{hline 17}{c BT}{hline 64}
F test that all u_i=0: F({res}192276{txt}, {res}137813{txt}) = {res}1.23{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}. 
. ****WILD BOOTSTRAP
. 
. set seed 3456789
{txt}
{com}. 
. *Wild bootstrap, country cluster, restricted
.                 boottest        {c -(}1.presub2h{c )-} {c -(}1.presub1h{c )-} {c -(}1.sub1h{c )-} {c -(}1.sub2h{c )-} {c -(}1.sub3h{c )-} {c -(}1.sub4h{c )-} {c -(}1.postsub1h{c )-} {c -(}1.postsub2h{c )-} , cluster(country) nograph  reps (999999) weight (webb)
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(country)
{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.presub2h

{txt}{col 41}t(6) = {res}    0.6063
{col 37}{txt}Prob>|t| = {res}    0.5814

95%{txt} confidence set for null hypothesis expression: [{res}-.4714{txt}, {res}.4399{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.presub1h

{txt}{col 41}t(6) = {res}   -0.3214
{col 37}{txt}Prob>|t| = {res}    0.7652

95%{txt} confidence set for null hypothesis expression: [{res}-.7942{txt}, {res}.6448{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.sub1h

{txt}{col 41}t(6) = {res}    1.8123
{col 37}{txt}Prob>|t| = {res}    0.2996

95%{txt} confidence set for null hypothesis expression: [{res}-.4429{txt}, {res}.803{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.sub2h

{txt}{col 41}t(6) = {res}    7.4510
{col 37}{txt}Prob>|t| = {res}    0.0685

95%{txt} confidence set for null hypothesis expression: [{res}-.03642{txt}, {res}.684{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.sub3h

{txt}{col 41}t(6) = {res}   -3.6675
{col 37}{txt}Prob>|t| = {res}    0.1868

95%{txt} confidence set for null hypothesis expression: [{res}-.8613{txt}, {res}.1852{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.sub4h

{txt}{col 41}t(6) = {res}   -4.4634
{col 37}{txt}Prob>|t| = {res}    0.1383

95%{txt} confidence set for null hypothesis expression: [{res}-.4083{txt}, {res}.09896{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.postsub1h

{txt}{col 41}t(6) = {res}   -2.6843
{col 37}{txt}Prob>|t| = {res}    0.2489

95%{txt} confidence set for null hypothesis expression: [{res}-.5141{txt}, {res}.3481{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.postsub2h

{txt}{col 41}t(6) = {res}   -1.3452
{col 37}{txt}Prob>|t| = {res}    0.3539

95%{txt} confidence set for null hypothesis expression: [{res}-.7136{txt}, {res}.5898{txt}]
{res}{txt}
{com}. *Wild bootstrap, country cluster, unrestricted
.                 boottest        {c -(}1.presub2h{c )-} {c -(}1.presub1h{c )-} {c -(}1.sub1h{c )-} {c -(}1.sub2h{c )-} {c -(}1.sub3h{c )-} {c -(}1.sub4h{c )-} {c -(}1.postsub1h{c )-} {c -(}1.postsub2h{c )-} , cluster(country) nograph  reps (999999) weight (webb)   nonull  
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(country)
{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.presub2h

{txt}{col 41}t(6) = {res}    0.6063
{col 37}{txt}Prob>|t| = {res}    0.4959

95%{txt} confidence set for null hypothesis expression: [{res}-.0652{txt}, {res}.1392{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.presub1h

{txt}{col 41}t(6) = {res}   -0.3214
{col 37}{txt}Prob>|t| = {res}    0.7434

95%{txt} confidence set for null hypothesis expression: [{res}-.2868{txt}, {res}.2297{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.sub1h

{txt}{col 41}t(6) = {res}    1.8123
{col 37}{txt}Prob>|t| = {res}    0.1232

95%{txt} confidence set for null hypothesis expression: [{res}-.08438{txt}, {res}.3633{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.sub2h

{txt}{col 41}t(6) = {res}    7.4510
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}.2749{txt}, {res}.4896{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.sub3h

{txt}{col 41}t(6) = {res}   -3.6675
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}-.3201{txt}, {res}-.1254{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.sub4h

{txt}{col 41}t(6) = {res}   -4.4634
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}-.1923{txt}, {res}-.09747{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.postsub1h

{txt}{col 41}t(6) = {res}   -2.6843
{col 37}{txt}Prob>|t| = {res}    0.0234

95%{txt} confidence set for null hypothesis expression: [{res}-.2733{txt}, {res}-.03391{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.postsub2h

{txt}{col 41}t(6) = {res}   -1.3452
{col 37}{txt}Prob>|t| = {res}    0.1451

95%{txt} confidence set for null hypothesis expression: [{res}-.2526{txt}, {res}.03676{txt}]
{res}{txt}
{com}. *Wild bootstrap, country-date cluster, restricted
.                 boottest        {c -(}1.presub2h{c )-} {c -(}1.presub1h{c )-} {c -(}1.sub1h{c )-} {c -(}1.sub2h{c )-} {c -(}1.sub3h{c )-} {c -(}1.sub4h{c )-} {c -(}1.postsub1h{c )-} {c -(}1.postsub2h{c )-} , cluster(cd)      nograph  noci
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(cd)

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.presub2h

{txt}{col 38}t(1043) = {res}    0.5144
{col 37}{txt}Prob>|t| = {res}    0.5816

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.presub1h

{txt}{col 38}t(1043) = {res}   -0.2345
{col 37}{txt}Prob>|t| = {res}    0.8358

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.sub1h

{txt}{col 38}t(1043) = {res}    1.9821
{col 37}{txt}Prob>|t| = {res}    0.1892

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.sub2h

{txt}{col 38}t(1043) = {res}    6.5894
{col 37}{txt}Prob>|t| = {res}    0.0080

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.sub3h

{txt}{col 38}t(1043) = {res}   -3.4082
{col 37}{txt}Prob>|t| = {res}    0.0210

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.sub4h

{txt}{col 38}t(1043) = {res}   -2.4218
{col 37}{txt}Prob>|t| = {res}    0.1371

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.postsub1h

{txt}{col 38}t(1043) = {res}   -2.0062
{col 37}{txt}Prob>|t| = {res}    0.1411

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.postsub2h

{txt}{col 38}t(1043) = {res}   -1.8992
{col 37}{txt}Prob>|t| = {res}    0.1251
{txt}
{com}. *Wild bootstrap, country-date cluster, unrestricted
.                 boottest        {c -(}1.presub2h{c )-} {c -(}1.presub1h{c )-} {c -(}1.sub1h{c )-} {c -(}1.sub2h{c )-} {c -(}1.sub3h{c )-} {c -(}1.sub4h{c )-} {c -(}1.postsub1h{c )-} {c -(}1.postsub2h{c )-} , cluster(cd)      nograph                                                                nonull  
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(cd)
{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.presub2h

{txt}{col 38}t(1043) = {res}    0.5144
{col 37}{txt}Prob>|t| = {res}    0.5285

95%{txt} confidence set for null hypothesis expression: [{res}-.08885{txt}, {res}.1625{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.presub1h

{txt}{col 38}t(1043) = {res}   -0.2345
{col 37}{txt}Prob>|t| = {res}    0.8378

95%{txt} confidence set for null hypothesis expression: [{res}-.4167{txt}, {res}.3589{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.sub1h

{txt}{col 38}t(1043) = {res}    1.9821
{col 37}{txt}Prob>|t| = {res}    0.0200

95%{txt} confidence set for null hypothesis expression: [{res}.01735{txt}, {res}.2616{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.sub2h

{txt}{col 38}t(1043) = {res}    6.5894
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}.2829{txt}, {res}.4814{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.sub3h

{txt}{col 38}t(1043) = {res}   -3.4082
{col 37}{txt}Prob>|t| = {res}    0.0010

95%{txt} confidence set for null hypothesis expression: [{res}-.3534{txt}, {res}-.09175{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.sub4h

{txt}{col 38}t(1043) = {res}   -2.4218
{col 37}{txt}Prob>|t| = {res}    0.0100

95%{txt} confidence set for null hypothesis expression: [{res}-.2501{txt}, {res}-.03981{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.postsub1h

{txt}{col 38}t(1043) = {res}   -2.0062
{col 37}{txt}Prob>|t| = {res}    0.0621

95%{txt} confidence set for null hypothesis expression: [{res}-.3167{txt}, {res}.009462{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.postsub2h

{txt}{col 38}t(1043) = {res}   -1.8992
{col 37}{txt}Prob>|t| = {res}    0.0090

95%{txt} confidence set for null hypothesis expression: [{res}-.1941{txt}, {res}-.02177{txt}]
{res}{txt}
{com}. *Subcluster bootstrap by product, restricted
.                 boottest        {c -(}1.presub2h{c )-} {c -(}1.presub1h{c )-} {c -(}1.sub1h{c )-} {c -(}1.sub2h{c )-} {c -(}1.sub3h{c )-} {c -(}1.sub4h{c )-} {c -(}1.postsub1h{c )-} {c -(}1.postsub2h{c )-} , cluster(id)      nograph
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(id)
{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.presub2h

{txt}{col 38}t(7956) = {res}    0.2969
{col 37}{txt}Prob>|t| = {res}    0.6807

95%{txt} confidence set for null hypothesis expression: [{res}-.1169{txt}, {res}.1909{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.presub1h

{txt}{col 38}t(7956) = {res}   -0.2412
{col 37}{txt}Prob>|t| = {res}    0.6987

95%{txt} confidence set for null hypothesis expression: [{res}-.1846{txt}, {res}.1335{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.sub1h

{txt}{col 38}t(7956) = {res}    1.2906
{col 37}{txt}Prob>|t| = {res}    0.0380

95%{txt} confidence set for null hypothesis expression: [{res}.008423{txt}, {res}.2777{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.sub2h

{txt}{col 38}t(7956) = {res}    3.5323
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}.2463{txt}, {res}.5171{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.sub3h

{txt}{col 38}t(7956) = {res}   -2.1312
{col 37}{txt}Prob>|t| = {res}    0.0010

95%{txt} confidence set for null hypothesis expression: [{res}-.3591{txt}, {res}-.08182{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.sub4h

{txt}{col 38}t(7956) = {res}   -1.3893
{col 37}{txt}Prob>|t| = {res}    0.0290

95%{txt} confidence set for null hypothesis expression: [{res}-.268{txt}, {res}-.01878{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.postsub1h

{txt}{col 38}t(7956) = {res}   -1.1580
{col 37}{txt}Prob>|t| = {res}    0.0651

95%{txt} confidence set for null hypothesis expression: [{res}-.3155{txt}, {res}.01052{txt}]
{res}{txt}.....................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.postsub2h

{txt}{col 38}t(7956) = {res}   -0.9406
{col 37}{txt}Prob>|t| = {res}    0.1321

95%{txt} confidence set for null hypothesis expression: [{res}-.2497{txt}, {res}.03123{txt}]
{res}{txt}
{com}. *Subcluster bootstrap by product, unrestricted
.                 boottest        {c -(}1.presub2h{c )-} {c -(}1.presub1h{c )-} {c -(}1.sub1h{c )-} {c -(}1.sub2h{c )-} {c -(}1.sub3h{c )-} {c -(}1.sub4h{c )-} {c -(}1.postsub1h{c )-} {c -(}1.postsub2h{c )-} , cluster(id)      nograph                                                                nonull
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(id)
{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.presub2h

{txt}{col 38}t(7956) = {res}    0.2969
{col 37}{txt}Prob>|t| = {res}    0.6587

95%{txt} confidence set for null hypothesis expression: [{res}-.1133{txt}, {res}.1871{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.presub1h

{txt}{col 38}t(7956) = {res}   -0.2412
{col 37}{txt}Prob>|t| = {res}    0.7127

95%{txt} confidence set for null hypothesis expression: [{res}-.1869{txt}, {res}.1298{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.sub1h

{txt}{col 38}t(7956) = {res}    1.2906
{col 37}{txt}Prob>|t| = {res}    0.0390

95%{txt} confidence set for null hypothesis expression: [{res}.004727{txt}, {res}.2742{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.sub2h

{txt}{col 38}t(7956) = {res}    3.5323
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}.2442{txt}, {res}.5204{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.sub3h

{txt}{col 38}t(7956) = {res}   -2.1312
{col 37}{txt}Prob>|t| = {res}    0.0010

95%{txt} confidence set for null hypothesis expression: [{res}-.3592{txt}, {res}-.08618{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.sub4h

{txt}{col 38}t(7956) = {res}   -1.3893
{col 37}{txt}Prob>|t| = {res}    0.0280

95%{txt} confidence set for null hypothesis expression: [{res}-.2802{txt}, {res}-.009558{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.postsub1h

{txt}{col 38}t(7956) = {res}   -1.1580
{col 37}{txt}Prob>|t| = {res}    0.0731

95%{txt} confidence set for null hypothesis expression: [{res}-.321{txt}, {res}.01379{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.postsub2h

{txt}{col 38}t(7956) = {res}   -0.9406
{col 37}{txt}Prob>|t| = {res}    0.1642

95%{txt} confidence set for null hypothesis expression: [{res}-.2591{txt}, {res}.04321{txt}]
{res}{txt}
{com}. *Subcluster bootstrap by country-product, restricted
.                 boottest        {c -(}1.presub2h{c )-} {c -(}1.presub1h{c )-} {c -(}1.sub1h{c )-} {c -(}1.sub2h{c )-} {c -(}1.sub3h{c )-} {c -(}1.sub4h{c )-} {c -(}1.postsub1h{c )-} {c -(}1.postsub2h{c )-} , cluster(id1)     nograph  noci
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(id1)

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.presub2h

{txt}{col 37}t(17791) = {res}    0.3682
{col 37}{txt}Prob>|t| = {res}    0.6386

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.presub1h

{txt}{col 37}t(17791) = {res}   -0.3106
{col 37}{txt}Prob>|t| = {res}    0.6997

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.sub1h

{txt}{col 37}t(17791) = {res}    1.6132
{col 37}{txt}Prob>|t| = {res}    0.0430

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.sub2h

{txt}{col 37}t(17791) = {res}    4.6080
{col 37}{txt}Prob>|t| = {res}    0.0000

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.sub3h

{txt}{col 37}t(17791) = {res}   -2.7348
{col 37}{txt}Prob>|t| = {res}    0.0030

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.sub4h

{txt}{col 37}t(17791) = {res}   -1.7724
{col 37}{txt}Prob>|t| = {res}    0.0340

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.postsub1h

{txt}{col 37}t(17791) = {res}   -1.5113
{col 37}{txt}Prob>|t| = {res}    0.0721

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.postsub2h

{txt}{col 37}t(17791) = {res}   -1.1985
{col 37}{txt}Prob>|t| = {res}    0.1241
{txt}
{com}. *Subcluster bootstrap by country-product, unrestricted
.                 boottest        {c -(}1.presub2h{c )-} {c -(}1.presub1h{c )-} {c -(}1.sub1h{c )-} {c -(}1.sub2h{c )-} {c -(}1.sub3h{c )-} {c -(}1.sub4h{c )-} {c -(}1.postsub1h{c )-} {c -(}1.postsub2h{c )-} , cluster(id1)     nograph                                                                nonull
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(id1)
{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.presub2h

{txt}{col 37}t(17791) = {res}    0.3682
{col 37}{txt}Prob>|t| = {res}    0.6316

95%{txt} confidence set for null hypothesis expression: [{res}-.1249{txt}, {res}.1987{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.presub1h

{txt}{col 37}t(17791) = {res}   -0.3106
{col 37}{txt}Prob>|t| = {res}    0.7037

95%{txt} confidence set for null hypothesis expression: [{res}-.1832{txt}, {res}.1261{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.sub1h

{txt}{col 37}t(17791) = {res}    1.6132
{col 37}{txt}Prob>|t| = {res}    0.0230

95%{txt} confidence set for null hypothesis expression: [{res}.01277{txt}, {res}.266{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.sub2h

{txt}{col 37}t(17791) = {res}    4.6080
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}.2459{txt}, {res}.5185{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.sub3h

{txt}{col 37}t(17791) = {res}   -2.7348
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}-.3535{txt}, {res}-.0919{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.sub4h

{txt}{col 37}t(17791) = {res}   -1.7724
{col 37}{txt}Prob>|t| = {res}    0.0260

95%{txt} confidence set for null hypothesis expression: [{res}-.2776{txt}, {res}-.01215{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.postsub1h

{txt}{col 37}t(17791) = {res}   -1.5113
{col 37}{txt}Prob>|t| = {res}    0.0611

95%{txt} confidence set for null hypothesis expression: [{res}-.3173{txt}, {res}.01053{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.postsub2h

{txt}{col 37}t(17791) = {res}   -1.1985
{col 37}{txt}Prob>|t| = {res}    0.1441

95%{txt} confidence set for null hypothesis expression: [{res}-.2487{txt}, {res}.03284{txt}]
{res}{txt}
{com}. 
. restore
{txt}
{com}. 
. *++++++++++++++
. *+  HU, 2016 ++
. *+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
. 
. preserve
{txt}
{com}. 
. egen cmt=group(country month treathf)
{txt}(772376 missing values generated)

{com}. tabulate cmt, gen(b)

{txt}group(count {c |}
   ry month {c |}
   treathf) {c |}      Freq.     Percent        Cum.
{hline 12}{c +}{hline 35}
          1 {c |}{res}     31,674        1.82        1.82
{txt}          2 {c |}{res}        109        0.01        1.83
{txt}          3 {c |}{res}     29,974        1.72        3.55
{txt}          4 {c |}{res}         96        0.01        3.55
{txt}          5 {c |}{res}     29,974        1.72        5.27
{txt}          6 {c |}{res}         96        0.01        5.28
{txt}          7 {c |}{res}     29,974        1.72        7.00
{txt}          8 {c |}{res}         96        0.01        7.01
{txt}          9 {c |}{res}     29,974        1.72        8.73
{txt}         10 {c |}{res}         96        0.01        8.73
{txt}         11 {c |}{res}     29,974        1.72       10.46
{txt}         12 {c |}{res}         96        0.01       10.46
{txt}         13 {c |}{res}     29,974        1.72       12.18
{txt}         14 {c |}{res}         96        0.01       12.19
{txt}         15 {c |}{res}     29,974        1.72       13.91
{txt}         16 {c |}{res}         96        0.01       13.92
{txt}         17 {c |}{res}     29,974        1.72       15.64
{txt}         18 {c |}{res}         96        0.01       15.64
{txt}         19 {c |}{res}     29,974        1.72       17.36
{txt}         20 {c |}{res}         96        0.01       17.37
{txt}         21 {c |}{res}     29,974        1.72       19.09
{txt}         22 {c |}{res}         96        0.01       19.10
{txt}         23 {c |}{res}     29,974        1.72       20.82
{txt}         24 {c |}{res}         96        0.01       20.82
{txt}         25 {c |}{res}      9,773        0.56       21.39
{txt}         26 {c |}{res}         66        0.00       21.39
{txt}         27 {c |}{res}      9,423        0.54       21.93
{txt}         28 {c |}{res}         60        0.00       21.93
{txt}         29 {c |}{res}      9,423        0.54       22.48
{txt}         30 {c |}{res}         60        0.00       22.48
{txt}         31 {c |}{res}      9,423        0.54       23.02
{txt}         32 {c |}{res}         60        0.00       23.02
{txt}         33 {c |}{res}      9,423        0.54       23.57
{txt}         34 {c |}{res}         60        0.00       23.57
{txt}         35 {c |}{res}      9,423        0.54       24.11
{txt}         36 {c |}{res}         60        0.00       24.11
{txt}         37 {c |}{res}      9,423        0.54       24.65
{txt}         38 {c |}{res}         60        0.00       24.66
{txt}         39 {c |}{res}      9,423        0.54       25.20
{txt}         40 {c |}{res}         60        0.00       25.20
{txt}         41 {c |}{res}      9,423        0.54       25.74
{txt}         42 {c |}{res}         60        0.00       25.75
{txt}         43 {c |}{res}      9,423        0.54       26.29
{txt}         44 {c |}{res}         60        0.00       26.29
{txt}         45 {c |}{res}      9,423        0.54       26.83
{txt}         46 {c |}{res}         60        0.00       26.84
{txt}         47 {c |}{res}      9,423        0.54       27.38
{txt}         48 {c |}{res}         60        0.00       27.38
{txt}         49 {c |}{res}     22,076        1.27       28.65
{txt}         50 {c |}{res}     21,145        1.21       29.86
{txt}         51 {c |}{res}     21,145        1.21       31.08
{txt}         52 {c |}{res}     21,145        1.21       32.29
{txt}         53 {c |}{res}     21,145        1.21       33.51
{txt}         54 {c |}{res}     21,145        1.21       34.72
{txt}         55 {c |}{res}     21,145        1.21       35.94
{txt}         56 {c |}{res}     21,145        1.21       37.15
{txt}         57 {c |}{res}     21,145        1.21       38.37
{txt}         58 {c |}{res}     21,145        1.21       39.58
{txt}         59 {c |}{res}     21,145        1.21       40.79
{txt}         60 {c |}{res}     21,145        1.21       42.01
{txt}         61 {c |}{res}     34,696        1.99       44.00
{txt}         62 {c |}{res}     32,887        1.89       45.89
{txt}         63 {c |}{res}     32,887        1.89       47.78
{txt}         64 {c |}{res}     32,887        1.89       49.67
{txt}         65 {c |}{res}     32,887        1.89       51.56
{txt}         66 {c |}{res}     32,887        1.89       53.45
{txt}         67 {c |}{res}     32,887        1.89       55.34
{txt}         68 {c |}{res}     32,887        1.89       57.23
{txt}         69 {c |}{res}     32,887        1.89       59.11
{txt}         70 {c |}{res}     32,887        1.89       61.00
{txt}         71 {c |}{res}     32,887        1.89       62.89
{txt}         72 {c |}{res}     32,887        1.89       64.78
{txt}         73 {c |}{res}     14,656        0.84       65.62
{txt}         74 {c |}{res}      2,825        0.16       65.79
{txt}         75 {c |}{res}     14,490        0.83       66.62
{txt}         76 {c |}{res}      2,269        0.13       66.75
{txt}         77 {c |}{res}     14,490        0.83       67.58
{txt}         78 {c |}{res}      2,269        0.13       67.71
{txt}         79 {c |}{res}     14,490        0.83       68.54
{txt}         80 {c |}{res}      2,269        0.13       68.67
{txt}         81 {c |}{res}     14,490        0.83       69.51
{txt}         82 {c |}{res}      2,269        0.13       69.64
{txt}         83 {c |}{res}     14,490        0.83       70.47
{txt}         84 {c |}{res}      2,269        0.13       70.60
{txt}         85 {c |}{res}     14,490        0.83       71.43
{txt}         86 {c |}{res}      2,269        0.13       71.56
{txt}         87 {c |}{res}     14,490        0.83       72.39
{txt}         88 {c |}{res}      2,269        0.13       72.52
{txt}         89 {c |}{res}     14,490        0.83       73.36
{txt}         90 {c |}{res}      2,269        0.13       73.49
{txt}         91 {c |}{res}     14,490        0.83       74.32
{txt}         92 {c |}{res}      2,269        0.13       74.45
{txt}         93 {c |}{res}     14,490        0.83       75.28
{txt}         94 {c |}{res}      2,269        0.13       75.41
{txt}         95 {c |}{res}     14,490        0.83       76.24
{txt}         96 {c |}{res}      2,269        0.13       76.37
{txt}         97 {c |}{res}     17,627        1.01       77.39
{txt}         98 {c |}{res}     16,857        0.97       78.35
{txt}         99 {c |}{res}     16,857        0.97       79.32
{txt}        100 {c |}{res}     16,857        0.97       80.29
{txt}        101 {c |}{res}     16,857        0.97       81.26
{txt}        102 {c |}{res}     16,857        0.97       82.23
{txt}        103 {c |}{res}     16,857        0.97       83.20
{txt}        104 {c |}{res}     16,857        0.97       84.16
{txt}        105 {c |}{res}     16,857        0.97       85.13
{txt}        106 {c |}{res}     16,857        0.97       86.10
{txt}        107 {c |}{res}     16,857        0.97       87.07
{txt}        108 {c |}{res}     16,857        0.97       88.04
{txt}        109 {c |}{res}      5,639        0.32       88.36
{txt}        110 {c |}{res}      5,387        0.31       88.67
{txt}        111 {c |}{res}      5,387        0.31       88.98
{txt}        112 {c |}{res}      5,387        0.31       89.29
{txt}        113 {c |}{res}      5,387        0.31       89.60
{txt}        114 {c |}{res}      5,387        0.31       89.91
{txt}        115 {c |}{res}      5,387        0.31       90.22
{txt}        116 {c |}{res}      5,387        0.31       90.53
{txt}        117 {c |}{res}      5,387        0.31       90.84
{txt}        118 {c |}{res}      5,387        0.31       91.15
{txt}        119 {c |}{res}      5,387        0.31       91.46
{txt}        120 {c |}{res}      5,387        0.31       91.76
{txt}        121 {c |}{res}     12,300        0.71       92.47
{txt}        122 {c |}{res}     11,916        0.68       93.16
{txt}        123 {c |}{res}     11,916        0.68       93.84
{txt}        124 {c |}{res}     11,916        0.68       94.52
{txt}        125 {c |}{res}     11,916        0.68       95.21
{txt}        126 {c |}{res}     11,916        0.68       95.89
{txt}        127 {c |}{res}     11,916        0.68       96.58
{txt}        128 {c |}{res}     11,916        0.68       97.26
{txt}        129 {c |}{res}     11,916        0.68       97.95
{txt}        130 {c |}{res}     11,916        0.68       98.63
{txt}        131 {c |}{res}     11,916        0.68       99.32
{txt}        132 {c |}{res}     11,916        0.68      100.00
{txt}{hline 12}{c +}{hline 35}
      Total {c |}{res}  1,740,985      100.00
{txt}
{com}. 
. *Product
. reghdfe dlogunits i.presub3hf##ib1.treathf i.presub2hf##ib1.treathf i.presub1hf##ib1.treathf i.sub1hf##ib1.treathf i.sub2hf##ib1.treathf i.sub3hf##ib1.treathf i.sub4hf##ib1.treathf i.postsub1hf##ib1.treathf  mage mage2 , absorb(id2 cmt) cluster(id)
{res}{txt}(dropped 212751 {browse "http://scorreia.com/research/singletons.pdf":singleton observations})
{res}{txt}note: {res}0bn.treathf{txt} is probably collinear with the fixed effects (all partialled-out values are close to zero; tol = 1.0e-09)
{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 13 iterations)
{res}{txt}note: 0.treathf omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}   537,385
{txt}Absorbing 2 HDFE groups{col 51}F({res}  18{txt},{res}  11691{txt}){col 67}= {res}     14.33
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.4449
{txt}{col 51}Adj R-squared{col 67}= {res}    0.0839
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0005
{txt}{col 1}Number of clusters ({res}id{txt}) {col 30}= {res}    11,692{txt}{col 51}Root MSE{col 67}= {res}    0.6957

{txt}{ralign 84:(Std. Err. adjusted for {res:11,692} clusters in id)}
{hline 19}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 20}{c |}{col 32}    Robust
{col 1}         dlogunits{col 20}{c |}      Coef.{col 32}   Std. Err.{col 44}      t{col 52}   P>|t|{col 60}     [95% Con{col 73}f. Interval]
{hline 19}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}1.presub3hf {c |}{col 20}{res}{space 2}-.0884069{col 32}{space 2}   .04819{col 43}{space 1}   -1.83{col 52}{space 3}0.067{col 60}{space 4}-.1828674{col 73}{space 3} .0060535
{txt}{space 9}0.treathf {c |}{col 20}{res}{space 2}        0{col 32}{txt}  (omitted)
{space 18} {c |}
{space 1}presub3hf#treathf {c |}
{space 14}1 0  {c |}{col 20}{res}{space 2}-.1141941{col 32}{space 2}  .120295{col 43}{space 1}   -0.95{col 52}{space 3}0.342{col 60}{space 4}-.3499924{col 73}{space 3} .1216042
{txt}{space 18} {c |}
{space 7}1.presub2hf {c |}{col 20}{res}{space 2} .0510648{col 32}{space 2} .0470557{col 43}{space 1}    1.09{col 52}{space 3}0.278{col 60}{space 4}-.0411723{col 73}{space 3} .1433019
{txt}{space 18} {c |}
{space 1}presub2hf#treathf {c |}
{space 14}1 0  {c |}{col 20}{res}{space 2}-.1209325{col 32}{space 2} .1058235{col 43}{space 1}   -1.14{col 52}{space 3}0.253{col 60}{space 4}-.3283643{col 73}{space 3} .0864993
{txt}{space 18} {c |}
{space 7}1.presub1hf {c |}{col 20}{res}{space 2} .0169184{col 32}{space 2} .0476836{col 43}{space 1}    0.35{col 52}{space 3}0.723{col 60}{space 4}-.0765495{col 73}{space 3} .1103862
{txt}{space 18} {c |}
{space 1}presub1hf#treathf {c |}
{space 14}1 0  {c |}{col 20}{res}{space 2}-.1159932{col 32}{space 2} .1187316{col 43}{space 1}   -0.98{col 52}{space 3}0.329{col 60}{space 4} -.348727{col 73}{space 3} .1167405
{txt}{space 18} {c |}
{space 10}1.sub1hf {c |}{col 20}{res}{space 2} .2673732{col 32}{space 2} .0484738{col 43}{space 1}    5.52{col 52}{space 3}0.000{col 60}{space 4} .1723566{col 73}{space 3} .3623899
{txt}{space 18} {c |}
{space 4}sub1hf#treathf {c |}
{space 14}1 0  {c |}{col 20}{res}{space 2} .0040724{col 32}{space 2} .1094472{col 43}{space 1}    0.04{col 52}{space 3}0.970{col 60}{space 4}-.2104623{col 73}{space 3} .2186071
{txt}{space 18} {c |}
{space 10}1.sub2hf {c |}{col 20}{res}{space 2} .2654118{col 32}{space 2} .0468288{col 43}{space 1}    5.67{col 52}{space 3}0.000{col 60}{space 4} .1736196{col 73}{space 3}  .357204
{txt}{space 18} {c |}
{space 4}sub2hf#treathf {c |}
{space 14}1 0  {c |}{col 20}{res}{space 2}-.3427808{col 32}{space 2}  .092777{col 43}{space 1}   -3.69{col 52}{space 3}0.000{col 60}{space 4}-.5246392{col 73}{space 3}-.1609225
{txt}{space 18} {c |}
{space 10}1.sub3hf {c |}{col 20}{res}{space 2}-.0171671{col 32}{space 2} .0458443{col 43}{space 1}   -0.37{col 52}{space 3}0.708{col 60}{space 4}-.1070295{col 73}{space 3} .0726953
{txt}{space 18} {c |}
{space 4}sub3hf#treathf {c |}
{space 14}1 0  {c |}{col 20}{res}{space 2} .1811649{col 32}{space 2} .1462654{col 43}{space 1}    1.24{col 52}{space 3}0.216{col 60}{space 4}-.1055398{col 73}{space 3} .4678696
{txt}{space 18} {c |}
{space 10}1.sub4hf {c |}{col 20}{res}{space 2}-.2555154{col 32}{space 2} .0455789{col 43}{space 1}   -5.61{col 52}{space 3}0.000{col 60}{space 4}-.3448576{col 73}{space 3}-.1661732
{txt}{space 18} {c |}
{space 4}sub4hf#treathf {c |}
{space 14}1 0  {c |}{col 20}{res}{space 2} .2426306{col 32}{space 2} .1083145{col 43}{space 1}    2.24{col 52}{space 3}0.025{col 60}{space 4} .0303161{col 73}{space 3} .4549451
{txt}{space 18} {c |}
{space 6}1.postsub1hf {c |}{col 20}{res}{space 2}-.0164918{col 32}{space 2}  .046241{col 43}{space 1}   -0.36{col 52}{space 3}0.721{col 60}{space 4}-.1071319{col 73}{space 3} .0741483
{txt}{space 18} {c |}
postsub1hf#treathf {c |}
{space 14}1 0  {c |}{col 20}{res}{space 2} .1601701{col 32}{space 2} .1389878{col 43}{space 1}    1.15{col 52}{space 3}0.249{col 60}{space 4}-.1122692{col 73}{space 3} .4326093
{txt}{space 18} {c |}
{space 14}mage {c |}{col 20}{res}{space 2} -.002879{col 32}{space 2} .0003155{col 43}{space 1}   -9.12{col 52}{space 3}0.000{col 60}{space 4}-.0034974{col 73}{space 3}-.0022605
{txt}{space 13}mage2 {c |}{col 20}{res}{space 2} .0000212{col 32}{space 2} 3.47e-06{col 43}{space 1}    6.10{col 52}{space 3}0.000{col 60}{space 4} .0000144{col 73}{space 3}  .000028
{txt}{space 13}_cons {c |}{col 20}{res}{space 2} .0417179{col 32}{space 2} .0053169{col 43}{space 1}    7.85{col 52}{space 3}0.000{col 60}{space 4} .0312958{col 73}{space 3}   .05214
{txt}{hline 19}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}         id2{col 14}{c |}{space 1}   211609{col 27}{space 1}   211609{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}         cmt{col 14}{c |}{space 1}      132{col 27}{space 1}        0{col 39}{result}{space 1}      132{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}. est store subu
{txt}
{com}. 
. *Country-date
. reghdfe dlogunits i.presub3hf##ib1.treathf i.presub2hf##ib1.treathf i.presub1hf##ib1.treathf i.sub1hf##ib1.treathf i.sub2hf##ib1.treathf i.sub3hf##ib1.treathf i.sub4hf##ib1.treathf i.postsub1hf##ib1.treathf  mage mage2 , absorb(id2 cmt) cluster(cd)
{res}{txt}(dropped 212751 {browse "http://scorreia.com/research/singletons.pdf":singleton observations})
{res}{txt}note: {res}0bn.treathf{txt} is probably collinear with the fixed effects (all partialled-out values are close to zero; tol = 1.0e-09)
{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 13 iterations)
{res}{txt}note: 0.treathf omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}   537,385
{txt}Absorbing 2 HDFE groups{col 51}F({res}  18{txt},{res}   1199{txt}){col 67}= {res}     11.31
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.4449
{txt}{col 51}Adj R-squared{col 67}= {res}    0.0839
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0005
{txt}{col 1}Number of clusters ({res}cd{txt}) {col 30}= {res}     1,200{txt}{col 51}Root MSE{col 67}= {res}    0.6956

{txt}{ralign 84:(Std. Err. adjusted for {res:1,200} clusters in cd)}
{hline 19}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 20}{c |}{col 32}    Robust
{col 1}         dlogunits{col 20}{c |}      Coef.{col 32}   Std. Err.{col 44}      t{col 52}   P>|t|{col 60}     [95% Con{col 73}f. Interval]
{hline 19}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}1.presub3hf {c |}{col 20}{res}{space 2}-.0884069{col 32}{space 2}  .046878{col 43}{space 1}   -1.89{col 52}{space 3}0.060{col 60}{space 4}-.1803789{col 73}{space 3}  .003565
{txt}{space 9}0.treathf {c |}{col 20}{res}{space 2}        0{col 32}{txt}  (omitted)
{space 18} {c |}
{space 1}presub3hf#treathf {c |}
{space 14}1 0  {c |}{col 20}{res}{space 2}-.1141941{col 32}{space 2} .0679061{col 43}{space 1}   -1.68{col 52}{space 3}0.093{col 60}{space 4}-.2474222{col 73}{space 3} .0190339
{txt}{space 18} {c |}
{space 7}1.presub2hf {c |}{col 20}{res}{space 2} .0510648{col 32}{space 2} .0407085{col 43}{space 1}    1.25{col 52}{space 3}0.210{col 60}{space 4}-.0288031{col 73}{space 3} .1309327
{txt}{space 18} {c |}
{space 1}presub2hf#treathf {c |}
{space 14}1 0  {c |}{col 20}{res}{space 2}-.1209325{col 32}{space 2} .0757077{col 43}{space 1}   -1.60{col 52}{space 3}0.110{col 60}{space 4}-.2694668{col 73}{space 3} .0276018
{txt}{space 18} {c |}
{space 7}1.presub1hf {c |}{col 20}{res}{space 2} .0169184{col 32}{space 2} .0267642{col 43}{space 1}    0.63{col 52}{space 3}0.527{col 60}{space 4}-.0355915{col 73}{space 3} .0694282
{txt}{space 18} {c |}
{space 1}presub1hf#treathf {c |}
{space 14}1 0  {c |}{col 20}{res}{space 2}-.1159932{col 32}{space 2} .0767813{col 43}{space 1}   -1.51{col 52}{space 3}0.131{col 60}{space 4}-.2666338{col 73}{space 3} .0346473
{txt}{space 18} {c |}
{space 10}1.sub1hf {c |}{col 20}{res}{space 2} .2673732{col 32}{space 2} .0487874{col 43}{space 1}    5.48{col 52}{space 3}0.000{col 60}{space 4}  .171655{col 73}{space 3} .3630914
{txt}{space 18} {c |}
{space 4}sub1hf#treathf {c |}
{space 14}1 0  {c |}{col 20}{res}{space 2} .0040724{col 32}{space 2} .0542897{col 43}{space 1}    0.08{col 52}{space 3}0.940{col 60}{space 4}-.1024409{col 73}{space 3} .1105857
{txt}{space 18} {c |}
{space 10}1.sub2hf {c |}{col 20}{res}{space 2} .2654118{col 32}{space 2} .0392518{col 43}{space 1}    6.76{col 52}{space 3}0.000{col 60}{space 4}  .188402{col 73}{space 3} .3424217
{txt}{space 18} {c |}
{space 4}sub2hf#treathf {c |}
{space 14}1 0  {c |}{col 20}{res}{space 2}-.3427808{col 32}{space 2} .0674182{col 43}{space 1}   -5.08{col 52}{space 3}0.000{col 60}{space 4}-.4750516{col 73}{space 3}-.2105101
{txt}{space 18} {c |}
{space 10}1.sub3hf {c |}{col 20}{res}{space 2}-.0171671{col 32}{space 2} .0388464{col 43}{space 1}   -0.44{col 52}{space 3}0.659{col 60}{space 4}-.0933815{col 73}{space 3} .0590473
{txt}{space 18} {c |}
{space 4}sub3hf#treathf {c |}
{space 14}1 0  {c |}{col 20}{res}{space 2} .1811649{col 32}{space 2} .0693061{col 43}{space 1}    2.61{col 52}{space 3}0.009{col 60}{space 4} .0451902{col 73}{space 3} .3171395
{txt}{space 18} {c |}
{space 10}1.sub4hf {c |}{col 20}{res}{space 2}-.2555154{col 32}{space 2} .0481281{col 43}{space 1}   -5.31{col 52}{space 3}0.000{col 60}{space 4}-.3499401{col 73}{space 3}-.1610907
{txt}{space 18} {c |}
{space 4}sub4hf#treathf {c |}
{space 14}1 0  {c |}{col 20}{res}{space 2} .2426306{col 32}{space 2} .0738578{col 43}{space 1}    3.29{col 52}{space 3}0.001{col 60}{space 4} .0977257{col 73}{space 3} .3875355
{txt}{space 18} {c |}
{space 6}1.postsub1hf {c |}{col 20}{res}{space 2}-.0164918{col 32}{space 2} .0503847{col 43}{space 1}   -0.33{col 52}{space 3}0.743{col 60}{space 4}-.1153437{col 73}{space 3} .0823601
{txt}{space 18} {c |}
postsub1hf#treathf {c |}
{space 14}1 0  {c |}{col 20}{res}{space 2} .1601701{col 32}{space 2} .0760652{col 43}{space 1}    2.11{col 52}{space 3}0.035{col 60}{space 4} .0109343{col 73}{space 3} .3094058
{txt}{space 18} {c |}
{space 14}mage {c |}{col 20}{res}{space 2} -.002879{col 32}{space 2} .0005605{col 43}{space 1}   -5.14{col 52}{space 3}0.000{col 60}{space 4}-.0039786{col 73}{space 3}-.0017794
{txt}{space 13}mage2 {c |}{col 20}{res}{space 2} .0000212{col 32}{space 2} 6.02e-06{col 43}{space 1}    3.52{col 52}{space 3}0.000{col 60}{space 4} 9.39e-06{col 73}{space 3}  .000033
{txt}{space 13}_cons {c |}{col 20}{res}{space 2} .0417179{col 32}{space 2} .0098893{col 43}{space 1}    4.22{col 52}{space 3}0.000{col 60}{space 4} .0223156{col 73}{space 3} .0611202
{txt}{hline 19}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}         id2{col 14}{c |}{space 1}   211609{col 27}{space 1}        0{col 39}{result}{space 1}   211609{col 53}{text} {col 54}{c |}
{res}{col 1}{text}         cmt{col 14}{c |}{space 1}      132{col 27}{space 1}       12{col 39}{result}{space 1}      120{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
{res}{txt}
{com}. est store subu1
{txt}
{com}. 
. *Country
. reghdfe dlogunits i.presub3hf##ib1.treathf i.presub2hf##ib1.treathf i.presub1hf##ib1.treathf i.sub1hf##ib1.treathf i.sub2hf##ib1.treathf i.sub3hf##ib1.treathf i.sub4hf##ib1.treathf i.postsub1hf##ib1.treathf  mage mage2 , absorb(id2 cmt) cluster(country)
{res}{txt}(dropped 212751 {browse "http://scorreia.com/research/singletons.pdf":singleton observations})
{res}{txt}note: {res}0bn.treathf{txt} is probably collinear with the fixed effects (all partialled-out values are close to zero; tol = 1.0e-09)
{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 13 iterations)
{res}{txt}warning: missing F statistic; dropped variables due to collinearity or too few clusters
{txt}note: 0.treathf omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}   537,385
{txt}Absorbing 2 HDFE groups{col 51}{help j_robustsingular##|_new:F(  18,      7)}{col 67}=          {res}.
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}=          {res}.
{txt}{col 51}R-squared{col 67}= {res}    0.4449
{txt}{col 51}Adj R-squared{col 67}= {res}    0.0839
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0005
{txt}{col 1}Number of clusters ({res}country{txt}) {col 30}= {res}         8{txt}{col 51}Root MSE{col 67}= {res}    0.6957

{txt}{ralign 84:(Std. Err. adjusted for {res:8} clusters in country)}
{hline 19}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 20}{c |}{col 32}    Robust
{col 1}         dlogunits{col 20}{c |}      Coef.{col 32}   Std. Err.{col 44}      t{col 52}   P>|t|{col 60}     [95% Con{col 73}f. Interval]
{hline 19}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}1.presub3hf {c |}{col 20}{res}{space 2}-.0884069{col 32}{space 2}  .032001{col 43}{space 1}   -2.76{col 52}{space 3}0.028{col 60}{space 4}-.1640773{col 73}{space 3}-.0127366
{txt}{space 9}0.treathf {c |}{col 20}{res}{space 2}        0{col 32}{txt}  (omitted)
{space 18} {c |}
{space 1}presub3hf#treathf {c |}
{space 14}1 0  {c |}{col 20}{res}{space 2}-.1141941{col 32}{space 2} .0658758{col 43}{space 1}   -1.73{col 52}{space 3}0.127{col 60}{space 4}-.2699656{col 73}{space 3} .0415774
{txt}{space 18} {c |}
{space 7}1.presub2hf {c |}{col 20}{res}{space 2} .0510648{col 32}{space 2} .0295145{col 43}{space 1}    1.73{col 52}{space 3}0.127{col 60}{space 4}-.0187258{col 73}{space 3} .1208554
{txt}{space 18} {c |}
{space 1}presub2hf#treathf {c |}
{space 14}1 0  {c |}{col 20}{res}{space 2}-.1209325{col 32}{space 2} .0786526{col 43}{space 1}   -1.54{col 52}{space 3}0.168{col 60}{space 4}-.3069164{col 73}{space 3} .0650514
{txt}{space 18} {c |}
{space 7}1.presub1hf {c |}{col 20}{res}{space 2} .0169184{col 32}{space 2} .0198639{col 43}{space 1}    0.85{col 52}{space 3}0.423{col 60}{space 4}-.0300523{col 73}{space 3}  .063889
{txt}{space 18} {c |}
{space 1}presub1hf#treathf {c |}
{space 14}1 0  {c |}{col 20}{res}{space 2}-.1159932{col 32}{space 2} .0696762{col 43}{space 1}   -1.66{col 52}{space 3}0.140{col 60}{space 4}-.2807513{col 73}{space 3} .0487648
{txt}{space 18} {c |}
{space 10}1.sub1hf {c |}{col 20}{res}{space 2} .2673732{col 32}{space 2} .0545458{col 43}{space 1}    4.90{col 52}{space 3}0.002{col 60}{space 4} .1383928{col 73}{space 3} .3963536
{txt}{space 18} {c |}
{space 4}sub1hf#treathf {c |}
{space 14}1 0  {c |}{col 20}{res}{space 2} .0040724{col 32}{space 2}  .049918{col 43}{space 1}    0.08{col 52}{space 3}0.937{col 60}{space 4}-.1139649{col 73}{space 3} .1221096
{txt}{space 18} {c |}
{space 10}1.sub2hf {c |}{col 20}{res}{space 2} .2654118{col 32}{space 2} .0460143{col 43}{space 1}    5.77{col 52}{space 3}0.001{col 60}{space 4} .1566053{col 73}{space 3} .3742183
{txt}{space 18} {c |}
{space 4}sub2hf#treathf {c |}
{space 14}1 0  {c |}{col 20}{res}{space 2}-.3427808{col 32}{space 2} .0895837{col 43}{space 1}   -3.83{col 52}{space 3}0.006{col 60}{space 4}-.5546126{col 73}{space 3}-.1309491
{txt}{space 18} {c |}
{space 10}1.sub3hf {c |}{col 20}{res}{space 2}-.0171671{col 32}{space 2} .0310162{col 43}{space 1}   -0.55{col 52}{space 3}0.597{col 60}{space 4}-.0905088{col 73}{space 3} .0561746
{txt}{space 18} {c |}
{space 4}sub3hf#treathf {c |}
{space 14}1 0  {c |}{col 20}{res}{space 2} .1811649{col 32}{space 2} .0682614{col 43}{space 1}    2.65{col 52}{space 3}0.033{col 60}{space 4} .0197524{col 73}{space 3} .3425774
{txt}{space 18} {c |}
{space 10}1.sub4hf {c |}{col 20}{res}{space 2}-.2555154{col 32}{space 2}  .036437{col 43}{space 1}   -7.01{col 52}{space 3}0.000{col 60}{space 4}-.3416753{col 73}{space 3}-.1693556
{txt}{space 18} {c |}
{space 4}sub4hf#treathf {c |}
{space 14}1 0  {c |}{col 20}{res}{space 2} .2426306{col 32}{space 2} .0841341{col 43}{space 1}    2.88{col 52}{space 3}0.024{col 60}{space 4} .0436851{col 73}{space 3} .4415761
{txt}{space 18} {c |}
{space 6}1.postsub1hf {c |}{col 20}{res}{space 2}-.0164918{col 32}{space 2} .0439492{col 43}{space 1}   -0.38{col 52}{space 3}0.719{col 60}{space 4}-.1204152{col 73}{space 3} .0874316
{txt}{space 18} {c |}
postsub1hf#treathf {c |}
{space 14}1 0  {c |}{col 20}{res}{space 2} .1601701{col 32}{space 2} .0918101{col 43}{space 1}    1.74{col 52}{space 3}0.125{col 60}{space 4}-.0569263{col 73}{space 3} .3772664
{txt}{space 18} {c |}
{space 14}mage {c |}{col 20}{res}{space 2} -.002879{col 32}{space 2} .0007637{col 43}{space 1}   -3.77{col 52}{space 3}0.007{col 60}{space 4}-.0046849{col 73}{space 3}-.0010731
{txt}{space 13}mage2 {c |}{col 20}{res}{space 2} .0000212{col 32}{space 2} 7.02e-06{col 43}{space 1}    3.02{col 52}{space 3}0.019{col 60}{space 4} 4.58e-06{col 73}{space 3} .0000378
{txt}{space 13}_cons {c |}{col 20}{res}{space 2} .0417179{col 32}{space 2} .0136115{col 43}{space 1}    3.06{col 52}{space 3}0.018{col 60}{space 4} .0095318{col 73}{space 3}  .073904
{txt}{hline 19}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}         id2{col 14}{c |}{space 1}   211609{col 27}{space 1}        0{col 39}{result}{space 1}   211609{col 53}{text} {col 54}{c |}
{res}{col 1}{text}         cmt{col 14}{c |}{space 1}      132{col 27}{space 1}      132{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}. est store subu2
{txt}
{com}. 
. *Country and id
. reghdfe dlogunits i.presub3hf##ib1.treathf i.presub2hf##ib1.treathf i.presub1hf##ib1.treathf i.sub1hf##ib1.treathf i.sub2hf##ib1.treathf i.sub3hf##ib1.treathf i.sub4hf##ib1.treathf i.postsub1hf##ib1.treathf  mage mage2 , absorb(id2 cmt) cluster(country id)
{res}{txt}(dropped 212751 {browse "http://scorreia.com/research/singletons.pdf":singleton observations})
{res}{txt}note: {res}0bn.treathf{txt} is probably collinear with the fixed effects (all partialled-out values are close to zero; tol = 1.0e-09)
{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 13 iterations)
{res}{txt}Warning: VCV matrix was non-positive semi-definite; adjustment from Cameron, Gelbach & Miller applied.
{txt}note: 0.treathf omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}   537,385
{txt}Absorbing 2 HDFE groups{col 51}F({res}  18{txt},{res}      7{txt}){col 67}= {res}     11.52
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0015
{txt}{col 51}R-squared{col 67}= {res}    0.4449
{txt}{col 51}Adj R-squared{col 67}= {res}    0.0839
{txt}{col 1}Number of clusters ({res}country{txt}) {col 30}= {res}         8{txt}{col 51}Within R-sq.{col 67}= {res}    0.0005
{txt}{col 1}Number of clusters ({res}id{txt}) {col 30}= {res}    11,692{txt}{col 51}Root MSE{col 67}= {res}    0.6957

{txt}{ralign 84:(Std. Err. adjusted for {res:8} clusters in country id)}
{hline 19}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 20}{c |}{col 32}    Robust
{col 1}         dlogunits{col 20}{c |}      Coef.{col 32}   Std. Err.{col 44}      t{col 52}   P>|t|{col 60}     [95% Con{col 73}f. Interval]
{hline 19}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}1.presub3hf {c |}{col 20}{res}{space 2}-.0884069{col 32}{space 2} .0364935{col 43}{space 1}   -2.42{col 52}{space 3}0.046{col 60}{space 4}-.1747004{col 73}{space 3}-.0021134
{txt}{space 9}0.treathf {c |}{col 20}{res}{space 2}        0{col 32}{space 2} 3.56e-10{col 43}{space 1}    0.00{col 52}{space 3}1.000{col 60}{space 4}-8.43e-10{col 73}{space 3} 8.43e-10
{txt}{space 18} {c |}
{space 1}presub3hf#treathf {c |}
{space 14}1 0  {c |}{col 20}{res}{space 2}-.1141941{col 32}{space 2} .0918865{col 43}{space 1}   -1.24{col 52}{space 3}0.254{col 60}{space 4}-.3314711{col 73}{space 3} .1030829
{txt}{space 18} {c |}
{space 7}1.presub2hf {c |}{col 20}{res}{space 2} .0510648{col 32}{space 2} .0359456{col 43}{space 1}    1.42{col 52}{space 3}0.198{col 60}{space 4} -.033933{col 73}{space 3} .1360627
{txt}{space 18} {c |}
{space 1}presub2hf#treathf {c |}
{space 14}1 0  {c |}{col 20}{res}{space 2}-.1209325{col 32}{space 2} .0898157{col 43}{space 1}   -1.35{col 52}{space 3}0.220{col 60}{space 4} -.333313{col 73}{space 3}  .091448
{txt}{space 18} {c |}
{space 7}1.presub1hf {c |}{col 20}{res}{space 2} .0169184{col 32}{space 2} .0315092{col 43}{space 1}    0.54{col 52}{space 3}0.608{col 60}{space 4}-.0575891{col 73}{space 3} .0914258
{txt}{space 18} {c |}
{space 1}presub1hf#treathf {c |}
{space 14}1 0  {c |}{col 20}{res}{space 2}-.1159932{col 32}{space 2} .0937798{col 43}{space 1}   -1.24{col 52}{space 3}0.256{col 60}{space 4}-.3377473{col 73}{space 3} .1057609
{txt}{space 18} {c |}
{space 10}1.sub1hf {c |}{col 20}{res}{space 2} .2673732{col 32}{space 2} .0512993{col 43}{space 1}    5.21{col 52}{space 3}0.001{col 60}{space 4} .1460697{col 73}{space 3} .3886767
{txt}{space 18} {c |}
{space 4}sub1hf#treathf {c |}
{space 14}1 0  {c |}{col 20}{res}{space 2} .0040724{col 32}{space 2} .0796802{col 43}{space 1}    0.05{col 52}{space 3}0.961{col 60}{space 4}-.1843413{col 73}{space 3}  .192486
{txt}{space 18} {c |}
{space 10}1.sub2hf {c |}{col 20}{res}{space 2} .2654118{col 32}{space 2} .0450211{col 43}{space 1}    5.90{col 52}{space 3}0.001{col 60}{space 4} .1589539{col 73}{space 3} .3718697
{txt}{space 18} {c |}
{space 4}sub2hf#treathf {c |}
{space 14}1 0  {c |}{col 20}{res}{space 2}-.3427808{col 32}{space 2}  .092325{col 43}{space 1}   -3.71{col 52}{space 3}0.008{col 60}{space 4}-.5610947{col 73}{space 3} -.124467
{txt}{space 18} {c |}
{space 10}1.sub3hf {c |}{col 20}{res}{space 2}-.0171671{col 32}{space 2} .0370307{col 43}{space 1}   -0.46{col 52}{space 3}0.657{col 60}{space 4}-.1047308{col 73}{space 3} .0703966
{txt}{space 18} {c |}
{space 4}sub3hf#treathf {c |}
{space 14}1 0  {c |}{col 20}{res}{space 2} .1811649{col 32}{space 2} .1163209{col 43}{space 1}    1.56{col 52}{space 3}0.163{col 60}{space 4}-.0938904{col 73}{space 3} .4562202
{txt}{space 18} {c |}
{space 10}1.sub4hf {c |}{col 20}{res}{space 2}-.2555154{col 32}{space 2} .0395322{col 43}{space 1}   -6.46{col 52}{space 3}0.000{col 60}{space 4}-.3489942{col 73}{space 3}-.1620366
{txt}{space 18} {c |}
{space 4}sub4hf#treathf {c |}
{space 14}1 0  {c |}{col 20}{res}{space 2} .2426306{col 32}{space 2} .0961978{col 43}{space 1}    2.52{col 52}{space 3}0.040{col 60}{space 4}  .015159{col 73}{space 3} .4701022
{txt}{space 18} {c |}
{space 6}1.postsub1hf {c |}{col 20}{res}{space 2}-.0164918{col 32}{space 2} .0437436{col 43}{space 1}   -0.38{col 52}{space 3}0.717{col 60}{space 4}-.1199289{col 73}{space 3} .0869453
{txt}{space 18} {c |}
postsub1hf#treathf {c |}
{space 14}1 0  {c |}{col 20}{res}{space 2} .1601701{col 32}{space 2} .1161227{col 43}{space 1}    1.38{col 52}{space 3}0.210{col 60}{space 4}-.1144165{col 73}{space 3} .4347566
{txt}{space 18} {c |}
{space 14}mage {c |}{col 20}{res}{space 2} -.002879{col 32}{space 2} .0006289{col 43}{space 1}   -4.58{col 52}{space 3}0.003{col 60}{space 4}-.0043662{col 73}{space 3}-.0013918
{txt}{space 13}mage2 {c |}{col 20}{res}{space 2} .0000212{col 32}{space 2} 5.96e-06{col 43}{space 1}    3.56{col 52}{space 3}0.009{col 60}{space 4} 7.10e-06{col 73}{space 3} .0000353
{txt}{space 13}_cons {c |}{col 20}{res}{space 2} .0417179{col 32}{space 2}  .011079{col 43}{space 1}    3.77{col 52}{space 3}0.007{col 60}{space 4} .0155201{col 73}{space 3} .0679157
{txt}{hline 19}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}         id2{col 14}{c |}{space 1}   211609{col 27}{space 1}   211609{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}         cmt{col 14}{c |}{space 1}      132{col 27}{space 1}      132{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}. est store subu3
{txt}
{com}. 
. esttab   subu subu2 subu1 subu3  , se star(* 0.10 ** 0.05 *** 0.01) mtitles nogaps scalars(N ) order(1.presub2hf 1.presub1hf 1.sub1hf 1.sub2hf 1.sub3hf 1.sub4hf 1.postsub1hf 1.postsub2hf) keep(1.presub2hf 1.presub1hf 1.sub1hf 1.sub2hf 1.sub3hf 1.sub4hf 1.postsub1hf 1.postsub2hf)
{res}
{txt}{hline 76}
{txt}                      (1)             (2)             (3)             (4)   
{txt}                     subu           subu2           subu1           subu3   
{txt}{hline 76}
{txt}1.presub2hf {res}       0.0511          0.0511          0.0511          0.0511   {txt}
            {res} {ralign 12:{txt:(}0.0471{txt:)}}    {ralign 12:{txt:(}0.0295{txt:)}}    {ralign 12:{txt:(}0.0407{txt:)}}    {ralign 12:{txt:(}0.0359{txt:)}}   {txt}
{txt}1.presub1hf {res}       0.0169          0.0169          0.0169          0.0169   {txt}
            {res} {ralign 12:{txt:(}0.0477{txt:)}}    {ralign 12:{txt:(}0.0199{txt:)}}    {ralign 12:{txt:(}0.0268{txt:)}}    {ralign 12:{txt:(}0.0315{txt:)}}   {txt}
{txt}1.sub1hf    {res}        0.267***        0.267***        0.267***        0.267***{txt}
            {res} {ralign 12:{txt:(}0.0485{txt:)}}    {ralign 12:{txt:(}0.0545{txt:)}}    {ralign 12:{txt:(}0.0488{txt:)}}    {ralign 12:{txt:(}0.0513{txt:)}}   {txt}
{txt}1.sub2hf    {res}        0.265***        0.265***        0.265***        0.265***{txt}
            {res} {ralign 12:{txt:(}0.0468{txt:)}}    {ralign 12:{txt:(}0.0460{txt:)}}    {ralign 12:{txt:(}0.0393{txt:)}}    {ralign 12:{txt:(}0.0450{txt:)}}   {txt}
{txt}1.sub3hf    {res}      -0.0172         -0.0172         -0.0172         -0.0172   {txt}
            {res} {ralign 12:{txt:(}0.0458{txt:)}}    {ralign 12:{txt:(}0.0310{txt:)}}    {ralign 12:{txt:(}0.0388{txt:)}}    {ralign 12:{txt:(}0.0370{txt:)}}   {txt}
{txt}1.sub4hf    {res}       -0.256***       -0.256***       -0.256***       -0.256***{txt}
            {res} {ralign 12:{txt:(}0.0456{txt:)}}    {ralign 12:{txt:(}0.0364{txt:)}}    {ralign 12:{txt:(}0.0481{txt:)}}    {ralign 12:{txt:(}0.0395{txt:)}}   {txt}
{txt}1.postsub1hf{res}      -0.0165         -0.0165         -0.0165         -0.0165   {txt}
            {res} {ralign 12:{txt:(}0.0462{txt:)}}    {ralign 12:{txt:(}0.0439{txt:)}}    {ralign 12:{txt:(}0.0504{txt:)}}    {ralign 12:{txt:(}0.0437{txt:)}}   {txt}
{txt}1.postsub2hf{res}                                                                {txt}
            {res}                                                                {txt}
{txt}{hline 76}
{txt}N           {res}       537385          537385          537385          537385   {txt}
{txt}{hline 76}
{txt}Standard errors in parentheses
{txt}* p<0.10, ** p<0.05, *** p<0.01

{com}. 
. 
. xtreg dlogunits i.presub3hf##ib1.treathf i.presub2hf##ib1.treathf i.presub1hf##ib1.treathf i.sub1hf##ib1.treathf i.sub2hf##ib1.treathf i.sub3hf##ib1.treathf i.sub4hf##ib1.treathf i.postsub1hf##ib1.treathf    mage mage2 b1-b132 , fe
{p 0 6 2}{txt}note: b96 omitted because of collinearity{p_end}
{p 0 6 2}note: b121 omitted because of collinearity{p_end}
{p 0 6 2}note: b122 omitted because of collinearity{p_end}
{p 0 6 2}note: b123 omitted because of collinearity{p_end}
{p 0 6 2}note: b124 omitted because of collinearity{p_end}
{p 0 6 2}note: b125 omitted because of collinearity{p_end}
{p 0 6 2}note: b126 omitted because of collinearity{p_end}
{p 0 6 2}note: b127 omitted because of collinearity{p_end}
{p 0 6 2}note: b128 omitted because of collinearity{p_end}
{p 0 6 2}note: b129 omitted because of collinearity{p_end}
{p 0 6 2}note: b130 omitted because of collinearity{p_end}
{p 0 6 2}note: b131 omitted because of collinearity{p_end}
{p 0 6 2}note: b132 omitted because of collinearity{p_end}
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}   750,136
{txt}Group variable: {res}id2{txt}{col 49}Number of groups{col 67}={col 69}{res}   424,360

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.0103{col 63}{txt}min{col 67}={col 69}{res}         1
{txt}     between = {res}0.0124{col 63}{txt}avg{col 67}={col 69}{res}       1.8
{txt}     overall = {res}0.0123{col 63}{txt}max{col 67}={col 69}{res}         8

{txt}{col 49}F({res}138{txt},{res}325638{txt}){col 67}={col 70}{res}    24.64
{txt}corr(u_i, Xb){col 16}= {res}-0.0518{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

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{col 1}         dlogunits{col 20}{c |}      Coef.{col 32}   Std. Err.{col 44}      t{col 52}   P>|t|{col 60}     [95% Con{col 73}f. Interval]
{hline 19}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
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{space 1}presub3hf#treathf {c |}
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{txt}{space 18} {c |}
{space 1}presub2hf#treathf {c |}
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{txt}{space 18} {c |}
{space 1}presub1hf#treathf {c |}
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{txt}{space 18} {c |}
{space 4}sub1hf#treathf {c |}
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{txt}{space 18} {c |}
{space 4}sub2hf#treathf {c |}
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{txt}{space 18} {c |}
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{txt}{space 18} {c |}
{space 4}sub3hf#treathf {c |}
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{txt}{space 18} {c |}
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{txt}{space 18} {c |}
{space 4}sub4hf#treathf {c |}
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{txt}{space 18} {c |}
postsub1hf#treathf {c |}
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{txt}{space 15}b77 {c |}{col 20}{res}{space 2} .0361946{col 32}{space 2} .0214249{col 43}{space 1}    1.69{col 52}{space 3}0.091{col 60}{space 4}-.0057976{col 73}{space 3} .0781869
{txt}{space 15}b78 {c |}{col 20}{res}{space 2}-.1569185{col 32}{space 2} .0487968{col 43}{space 1}   -3.22{col 52}{space 3}0.001{col 60}{space 4}-.2525588{col 73}{space 3}-.0612781
{txt}{space 15}b79 {c |}{col 20}{res}{space 2}  -.06757{col 32}{space 2} .0212856{col 43}{space 1}   -3.17{col 52}{space 3}0.002{col 60}{space 4}-.1092892{col 73}{space 3}-.0258508
{txt}{space 15}b80 {c |}{col 20}{res}{space 2} .0890526{col 32}{space 2} .0486416{col 43}{space 1}    1.83{col 52}{space 3}0.067{col 60}{space 4}-.0062835{col 73}{space 3} .1843886
{txt}{space 15}b81 {c |}{col 20}{res}{space 2}  .164843{col 32}{space 2} .0208432{col 43}{space 1}    7.91{col 52}{space 3}0.000{col 60}{space 4}  .123991{col 73}{space 3}  .205695
{txt}{space 15}b82 {c |}{col 20}{res}{space 2} .1379193{col 32}{space 2} .0476938{col 43}{space 1}    2.89{col 52}{space 3}0.004{col 60}{space 4} .0444408{col 73}{space 3} .2313978
{txt}{space 15}b83 {c |}{col 20}{res}{space 2} .0259473{col 32}{space 2}  .019822{col 43}{space 1}    1.31{col 52}{space 3}0.191{col 60}{space 4}-.0129031{col 73}{space 3} .0647978
{txt}{space 15}b84 {c |}{col 20}{res}{space 2}  .053902{col 32}{space 2}  .051443{col 43}{space 1}    1.05{col 52}{space 3}0.295{col 60}{space 4}-.0469249{col 73}{space 3} .1547289
{txt}{space 15}b85 {c |}{col 20}{res}{space 2} .0417518{col 32}{space 2} .0189212{col 43}{space 1}    2.21{col 52}{space 3}0.027{col 60}{space 4} .0046667{col 73}{space 3} .0788368
{txt}{space 15}b86 {c |}{col 20}{res}{space 2}  .092419{col 32}{space 2} .0496949{col 43}{space 1}    1.86{col 52}{space 3}0.063{col 60}{space 4}-.0049817{col 73}{space 3} .1898196
{txt}{space 15}b87 {c |}{col 20}{res}{space 2}-.2479738{col 32}{space 2} .0187498{col 43}{space 1}  -13.23{col 52}{space 3}0.000{col 60}{space 4} -.284723{col 73}{space 3}-.2112247
{txt}{space 15}b88 {c |}{col 20}{res}{space 2}-.1951512{col 32}{space 2} .0486097{col 43}{space 1}   -4.01{col 52}{space 3}0.000{col 60}{space 4}-.2904248{col 73}{space 3}-.0998775
{txt}{space 15}b89 {c |}{col 20}{res}{space 2}-.1287518{col 32}{space 2} .0191959{col 43}{space 1}   -6.71{col 52}{space 3}0.000{col 60}{space 4}-.1663752{col 73}{space 3}-.0911284
{txt}{space 15}b90 {c |}{col 20}{res}{space 2}-.0839829{col 32}{space 2} .0487372{col 43}{space 1}   -1.72{col 52}{space 3}0.085{col 60}{space 4}-.1795065{col 73}{space 3} .0115407
{txt}{space 15}b91 {c |}{col 20}{res}{space 2} .1367702{col 32}{space 2} .0196335{col 43}{space 1}    6.97{col 52}{space 3}0.000{col 60}{space 4} .0982892{col 73}{space 3} .1752513
{txt}{space 15}b92 {c |}{col 20}{res}{space 2} .1371074{col 32}{space 2} .0485538{col 43}{space 1}    2.82{col 52}{space 3}0.005{col 60}{space 4} .0419432{col 73}{space 3} .2322715
{txt}{space 15}b93 {c |}{col 20}{res}{space 2} .0338108{col 32}{space 2} .0200399{col 43}{space 1}    1.69{col 52}{space 3}0.092{col 60}{space 4}-.0054668{col 73}{space 3} .0730884
{txt}{space 15}b94 {c |}{col 20}{res}{space 2} .1095868{col 32}{space 2}  .048554{col 43}{space 1}    2.26{col 52}{space 3}0.024{col 60}{space 4} .0144223{col 73}{space 3} .2047513
{txt}{space 15}b95 {c |}{col 20}{res}{space 2}-.0160171{col 32}{space 2}  .020158{col 43}{space 1}   -0.79{col 52}{space 3}0.427{col 60}{space 4}-.0555261{col 73}{space 3}  .023492
{txt}{space 15}b96 {c |}{col 20}{res}{space 2}        0{col 32}{txt}  (omitted)
{space 15}b97 {c |}{col 20}{res}{space 2}-.1180864{col 32}{space 2} .0189615{col 43}{space 1}   -6.23{col 52}{space 3}0.000{col 60}{space 4}-.1552504{col 73}{space 3}-.0809224
{txt}{space 15}b98 {c |}{col 20}{res}{space 2}-.0109951{col 32}{space 2} .0202826{col 43}{space 1}   -0.54{col 52}{space 3}0.588{col 60}{space 4}-.0507484{col 73}{space 3} .0287583
{txt}{space 15}b99 {c |}{col 20}{res}{space 2} .0766899{col 32}{space 2}  .020076{col 43}{space 1}    3.82{col 52}{space 3}0.000{col 60}{space 4} .0373416{col 73}{space 3} .1160383
{txt}{space 14}b100 {c |}{col 20}{res}{space 2} -.084959{col 32}{space 2}  .019797{col 43}{space 1}   -4.29{col 52}{space 3}0.000{col 60}{space 4}-.1237605{col 73}{space 3}-.0461575
{txt}{space 14}b101 {c |}{col 20}{res}{space 2} .0869854{col 32}{space 2} .0195191{col 43}{space 1}    4.46{col 52}{space 3}0.000{col 60}{space 4} .0487285{col 73}{space 3} .1252422
{txt}{space 14}b102 {c |}{col 20}{res}{space 2}-.0366314{col 32}{space 2}  .018522{col 43}{space 1}   -1.98{col 52}{space 3}0.048{col 60}{space 4} -.072934{col 73}{space 3}-.0003288
{txt}{space 14}b103 {c |}{col 20}{res}{space 2} .1340717{col 32}{space 2} .0177105{col 43}{space 1}    7.57{col 52}{space 3}0.000{col 60}{space 4} .0993595{col 73}{space 3} .1687838
{txt}{space 14}b104 {c |}{col 20}{res}{space 2}-.1046354{col 32}{space 2} .0174129{col 43}{space 1}   -6.01{col 52}{space 3}0.000{col 60}{space 4}-.1387642{col 73}{space 3}-.0705066
{txt}{space 14}b105 {c |}{col 20}{res}{space 2}-.0169602{col 32}{space 2} .0176703{col 43}{space 1}   -0.96{col 52}{space 3}0.337{col 60}{space 4}-.0515935{col 73}{space 3} .0176732
{txt}{space 14}b106 {c |}{col 20}{res}{space 2} .1372787{col 32}{space 2}   .01796{col 43}{space 1}    7.64{col 52}{space 3}0.000{col 60}{space 4} .1020776{col 73}{space 3} .1724798
{txt}{space 14}b107 {c |}{col 20}{res}{space 2}   .03516{col 32}{space 2} .0183131{col 43}{space 1}    1.92{col 52}{space 3}0.055{col 60}{space 4} -.000733{col 73}{space 3} .0710531
{txt}{space 14}b108 {c |}{col 20}{res}{space 2} .0347979{col 32}{space 2} .0183861{col 43}{space 1}    1.89{col 52}{space 3}0.058{col 60}{space 4}-.0012383{col 73}{space 3} .0708342
{txt}{space 14}b109 {c |}{col 20}{res}{space 2} .0332941{col 32}{space 2} .0273644{col 43}{space 1}    1.22{col 52}{space 3}0.224{col 60}{space 4}-.0203393{col 73}{space 3} .0869275
{txt}{space 14}b110 {c |}{col 20}{res}{space 2} .0402716{col 32}{space 2} .0283956{col 43}{space 1}    1.42{col 52}{space 3}0.156{col 60}{space 4}-.0153831{col 73}{space 3} .0959262
{txt}{space 14}b111 {c |}{col 20}{res}{space 2} .0343167{col 32}{space 2}  .028312{col 43}{space 1}    1.21{col 52}{space 3}0.225{col 60}{space 4} -.021174{col 73}{space 3} .0898074
{txt}{space 14}b112 {c |}{col 20}{res}{space 2}-.0166776{col 32}{space 2} .0273662{col 43}{space 1}   -0.61{col 52}{space 3}0.542{col 60}{space 4}-.0703146{col 73}{space 3} .0369594
{txt}{space 14}b113 {c |}{col 20}{res}{space 2}  .004542{col 32}{space 2} .0273457{col 43}{space 1}    0.17{col 52}{space 3}0.868{col 60}{space 4}-.0490549{col 73}{space 3} .0581388
{txt}{space 14}b114 {c |}{col 20}{res}{space 2}-.0311399{col 32}{space 2} .0259221{col 43}{space 1}   -1.20{col 52}{space 3}0.230{col 60}{space 4}-.0819464{col 73}{space 3} .0196666
{txt}{space 14}b115 {c |}{col 20}{res}{space 2}-.1081987{col 32}{space 2}   .02523{col 43}{space 1}   -4.29{col 52}{space 3}0.000{col 60}{space 4}-.1576488{col 73}{space 3}-.0587485
{txt}{space 14}b116 {c |}{col 20}{res}{space 2} .1130802{col 32}{space 2} .0246742{col 43}{space 1}    4.58{col 52}{space 3}0.000{col 60}{space 4} .0647195{col 73}{space 3} .1614409
{txt}{space 14}b117 {c |}{col 20}{res}{space 2} .0612425{col 32}{space 2} .0252814{col 43}{space 1}    2.42{col 52}{space 3}0.015{col 60}{space 4} .0116918{col 73}{space 3} .1107933
{txt}{space 14}b118 {c |}{col 20}{res}{space 2} .1070876{col 32}{space 2} .0255792{col 43}{space 1}    4.19{col 52}{space 3}0.000{col 60}{space 4} .0569531{col 73}{space 3}  .157222
{txt}{space 14}b119 {c |}{col 20}{res}{space 2} .0793027{col 32}{space 2}  .026405{col 43}{space 1}    3.00{col 52}{space 3}0.003{col 60}{space 4} .0275497{col 73}{space 3} .1310557
{txt}{space 14}b120 {c |}{col 20}{res}{space 2}-.0521164{col 32}{space 2} .0263022{col 43}{space 1}   -1.98{col 52}{space 3}0.048{col 60}{space 4}-.1036679{col 73}{space 3}-.0005649
{txt}{space 14}b121 {c |}{col 20}{res}{space 2}        0{col 32}{txt}  (omitted)
{space 14}b122 {c |}{col 20}{res}{space 2}        0{col 32}{txt}  (omitted)
{space 14}b123 {c |}{col 20}{res}{space 2}        0{col 32}{txt}  (omitted)
{space 14}b124 {c |}{col 20}{res}{space 2}        0{col 32}{txt}  (omitted)
{space 14}b125 {c |}{col 20}{res}{space 2}        0{col 32}{txt}  (omitted)
{space 14}b126 {c |}{col 20}{res}{space 2}        0{col 32}{txt}  (omitted)
{space 14}b127 {c |}{col 20}{res}{space 2}        0{col 32}{txt}  (omitted)
{space 14}b128 {c |}{col 20}{res}{space 2}        0{col 32}{txt}  (omitted)
{space 14}b129 {c |}{col 20}{res}{space 2}        0{col 32}{txt}  (omitted)
{space 14}b130 {c |}{col 20}{res}{space 2}        0{col 32}{txt}  (omitted)
{space 14}b131 {c |}{col 20}{res}{space 2}        0{col 32}{txt}  (omitted)
{space 14}b132 {c |}{col 20}{res}{space 2}        0{col 32}{txt}  (omitted)
{space 13}_cons {c |}{col 20}{res}{space 2} .0228874{col 32}{space 2} .0347963{col 43}{space 1}    0.66{col 52}{space 3}0.511{col 60}{space 4}-.0453123{col 73}{space 3} .0910871
{txt}{hline 19}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           sigma_u {c |} {res} .69790724
           {txt}sigma_e {c |} {res} .69563928
               {txt}rho {c |} {res} .50162747{txt}   (fraction of variance due to u_i)
{hline 19}{c BT}{hline 64}
F test that all u_i=0: F({res}424359{txt}, {res}325638{txt}) = {res}1.30{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}. 
. ****WILD BOOTSTRAP
. 
. 
. *Wild bootstrap, country cluster, restricted
.                 boottest        {c -(}1.presub2hf{c )-} {c -(}1.presub1hf{c )-} {c -(} 1.sub1hf{c )-} {c -(} 1.sub2hf{c )-} {c -(}1.sub3hf{c )-} {c -(}1.sub4hf{c )-} {c -(}1.postsub1hf{c )-} , cluster(country) nograph  reps (999999) weight (webb)
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(country)
{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.presub2hf

{txt}{col 41}t(7) = {res}    1.4641
{col 37}{txt}Prob>|t| = {res}    0.3851

95%{txt} confidence set for null hypothesis expression: [{res}-.116{txt}, {res}.2149{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.presub1hf

{txt}{col 41}t(7) = {res}    0.7208
{col 37}{txt}Prob>|t| = {res}    0.4606

95%{txt} confidence set for null hypothesis expression: [{res}-.1457{txt}, {res}.2192{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.sub1hf

{txt}{col 41}t(7) = {res}    4.1481
{col 37}{txt}Prob>|t| = {res}    0.1823

95%{txt} confidence set for null hypothesis expression: [{res}-.2268{txt}, {res}.7069{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.sub2hf

{txt}{col 41}t(7) = {res}    4.8811
{col 37}{txt}Prob>|t| = {res}    0.1609

95%{txt} confidence set for null hypothesis expression: [{res}-.2985{txt}, {res}.7032{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.sub3hf

{txt}{col 41}t(7) = {res}   -0.4684
{col 37}{txt}Prob>|t| = {res}    0.5858

95%{txt} confidence set for null hypothesis expression: [{res}-.3209{txt}, {res}.2285{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.sub4hf

{txt}{col 41}t(7) = {res}   -5.9343
{col 37}{txt}Prob>|t| = {res}    0.0636

95%{txt} confidence set for null hypothesis expression: [{res}-.5536{txt}, {res}.02266{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.postsub1hf

{txt}{col 41}t(7) = {res}   -0.3175
{col 37}{txt}Prob>|t| = {res}    0.7954

95%{txt} confidence set for null hypothesis expression: [{res}-.3808{txt}, {res}.4111{txt}]
{res}{txt}
{com}. *Wild bootstrap, country cluster, unrestricted
.                 boottest        {c -(}1.presub2hf{c )-} {c -(}1.presub1hf{c )-} {c -(} 1.sub1hf{c )-} {c -(} 1.sub2hf{c )-} {c -(}1.sub3hf{c )-} {c -(}1.sub4hf{c )-} {c -(}1.postsub1hf{c )-} , cluster(country) nograph  reps (999999) weight (webb)        nonull  
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(country)
{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.presub2hf

{txt}{col 41}t(7) = {res}    1.4641
{col 37}{txt}Prob>|t| = {res}    0.0271

95%{txt} confidence set for null hypothesis expression: [{res}.004329{txt}, {res}.0978{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.presub1hf

{txt}{col 41}t(7) = {res}    0.7208
{col 37}{txt}Prob>|t| = {res}    0.3883

95%{txt} confidence set for null hypothesis expression: [{res}-.02638{txt}, {res}.06022{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.sub1hf

{txt}{col 41}t(7) = {res}    4.1481
{col 37}{txt}Prob>|t| = {res}    0.0126

95%{txt} confidence set for null hypothesis expression: [{res}.07669{txt}, {res}.4581{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.sub2hf

{txt}{col 41}t(7) = {res}    4.8811
{col 37}{txt}Prob>|t| = {res}    0.0007

95%{txt} confidence set for null hypothesis expression: [{res}.1496{txt}, {res}.3812{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.sub3hf

{txt}{col 41}t(7) = {res}   -0.4684
{col 37}{txt}Prob>|t| = {res}    0.5287

95%{txt} confidence set for null hypothesis expression: [{res}-.06313{txt}, {res}.02879{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.sub4hf

{txt}{col 41}t(7) = {res}   -5.9343
{col 37}{txt}Prob>|t| = {res}    0.0006

95%{txt} confidence set for null hypothesis expression: [{res}-.3896{txt}, {res}-.1215{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.postsub1hf

{txt}{col 41}t(7) = {res}   -0.3175
{col 37}{txt}Prob>|t| = {res}    0.7610

95%{txt} confidence set for null hypothesis expression: [{res}-.1226{txt}, {res}.08964{txt}]
{res}{txt}
{com}. *Wild bootstrap, country-date cluster, restricted
.                 boottest        {c -(}1.presub2hf{c )-} {c -(}1.presub1hf{c )-} {c -(} 1.sub1hf{c )-} {c -(} 1.sub2hf{c )-} {c -(}1.sub3hf{c )-} {c -(}1.sub4hf{c )-} {c -(}1.postsub1hf{c )-} , cluster(cd)   nograph  noci
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(cd)

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.presub2hf

{txt}{col 38}t(1199) = {res}    1.0617
{col 37}{txt}Prob>|t| = {res}    0.3934

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.presub1hf

{txt}{col 38}t(1199) = {res}    0.5350
{col 37}{txt}Prob>|t| = {res}    0.5315

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.sub1hf

{txt}{col 38}t(1199) = {res}    4.6386
{col 37}{txt}Prob>|t| = {res}    0.0200

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.sub2hf

{txt}{col 38}t(1199) = {res}    5.7231
{col 37}{txt}Prob>|t| = {res}    0.0110

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.sub3hf

{txt}{col 38}t(1199) = {res}   -0.3740
{col 37}{txt}Prob>|t| = {res}    0.6216

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.sub4hf

{txt}{col 38}t(1199) = {res}   -4.4936
{col 37}{txt}Prob>|t| = {res}    0.0280

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.postsub1hf

{txt}{col 38}t(1199) = {res}   -0.2770
{col 37}{txt}Prob>|t| = {res}    0.7918
{txt}
{com}. *Wild bootstrap, country-date cluster, unrestricted
.                 boottest        {c -(}1.presub2hf{c )-} {c -(}1.presub1hf{c )-} {c -(} 1.sub1hf{c )-} {c -(} 1.sub2hf{c )-} {c -(}1.sub3hf{c )-} {c -(}1.sub4hf{c )-} {c -(}1.postsub1hf{c )-} , cluster(cd)   nograph                                                                        nonull  
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(cd)
{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.presub2hf

{txt}{col 38}t(1199) = {res}    1.0617
{col 37}{txt}Prob>|t| = {res}    0.2482

95%{txt} confidence set for null hypothesis expression: [{res}-.04011{txt}, {res}.1422{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.presub1hf

{txt}{col 38}t(1199) = {res}    0.5350
{col 37}{txt}Prob>|t| = {res}    0.4995

95%{txt} confidence set for null hypothesis expression: [{res}-.03212{txt}, {res}.06596{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.sub1hf

{txt}{col 38}t(1199) = {res}    4.6386
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}.1461{txt}, {res}.3886{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.sub2hf

{txt}{col 38}t(1199) = {res}    5.7231
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}.189{txt}, {res}.3418{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.sub3hf

{txt}{col 38}t(1199) = {res}   -0.3740
{col 37}{txt}Prob>|t| = {res}    0.6216

95%{txt} confidence set for null hypothesis expression: [{res}-.08932{txt}, {res}.05501{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.sub4hf

{txt}{col 38}t(1199) = {res}   -4.4936
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}-.3694{txt}, {res}-.1417{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.postsub1hf

{txt}{col 38}t(1199) = {res}   -0.2770
{col 37}{txt}Prob>|t| = {res}    0.7728

95%{txt} confidence set for null hypothesis expression: [{res}-.1424{txt}, {res}.1094{txt}]
{res}{txt}
{com}. *Subcluster bootstrap by product, restricted
.                 boottest        {c -(}1.presub2hf{c )-} {c -(}1.presub1hf{c )-} {c -(} 1.sub1hf{c )-} {c -(} 1.sub2hf{c )-} {c -(}1.sub3hf{c )-} {c -(}1.sub4hf{c )-} {c -(}1.postsub1hf{c )-} , cluster(id)   nograph
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(id)
{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.presub2hf

{txt}{col 37}t(15688) = {res}    0.7151
{col 37}{txt}Prob>|t| = {res}    0.2863

95%{txt} confidence set for null hypothesis expression: [{res}-.03869{txt}, {res}.142{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.presub1hf

{txt}{col 37}t(15688) = {res}    0.2338
{col 37}{txt}Prob>|t| = {res}    0.7257

95%{txt} confidence set for null hypothesis expression: [{res}-.07064{txt}, {res}.1056{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.sub1hf

{txt}{col 37}t(15688) = {res}    3.6347
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}.1723{txt}, {res}.3649{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.sub2hf

{txt}{col 37}t(15688) = {res}    3.7348
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}.1749{txt}, {res}.3558{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.sub3hf

{txt}{col 37}t(15688) = {res}   -0.2468
{col 37}{txt}Prob>|t| = {res}    0.7147

95%{txt} confidence set for null hypothesis expression: [{res}-.1105{txt}, {res}.0769{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.sub4hf

{txt}{col 37}t(15688) = {res}   -3.6942
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}-.3473{txt}, {res}-.1599{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.postsub1hf

{txt}{col 37}t(15688) = {res}   -0.2350
{col 37}{txt}Prob>|t| = {res}    0.7267

95%{txt} confidence set for null hypothesis expression: [{res}-.1063{txt}, {res}.07516{txt}]
{res}{txt}
{com}. *Subcluster bootstrap by product, unrestricted
.                 boottest        {c -(}1.presub2hf{c )-} {c -(}1.presub1hf{c )-} {c -(} 1.sub1hf{c )-} {c -(} 1.sub2hf{c )-} {c -(}1.sub3hf{c )-} {c -(}1.sub4hf{c )-} {c -(}1.postsub1hf{c )-} , cluster(id)   nograph                                                                        nonull
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(id)
{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.presub2hf

{txt}{col 37}t(15688) = {res}    0.7151
{col 37}{txt}Prob>|t| = {res}    0.2653

95%{txt} confidence set for null hypothesis expression: [{res}-.03782{txt}, {res}.14{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.presub1hf

{txt}{col 37}t(15688) = {res}    0.2338
{col 37}{txt}Prob>|t| = {res}    0.7227

95%{txt} confidence set for null hypothesis expression: [{res}-.07828{txt}, {res}.112{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.sub1hf

{txt}{col 37}t(15688) = {res}    3.6347
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}.1712{txt}, {res}.3636{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.sub2hf

{txt}{col 37}t(15688) = {res}    3.7348
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}.1727{txt}, {res}.3581{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.sub3hf

{txt}{col 37}t(15688) = {res}   -0.2468
{col 37}{txt}Prob>|t| = {res}    0.7167

95%{txt} confidence set for null hypothesis expression: [{res}-.1136{txt}, {res}.07924{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.sub4hf

{txt}{col 37}t(15688) = {res}   -3.6942
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}-.3455{txt}, {res}-.1654{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.postsub1hf

{txt}{col 37}t(15688) = {res}   -0.2350
{col 37}{txt}Prob>|t| = {res}    0.7257

95%{txt} confidence set for null hypothesis expression: [{res}-.1093{txt}, {res}.07626{txt}]
{res}{txt}
{com}. *Subcluster bootstrap by country-product, restricted
.                 boottest        {c -(}1.presub2hf{c )-} {c -(}1.presub1hf{c )-} {c -(} 1.sub1hf{c )-} {c -(} 1.sub2hf{c )-} {c -(}1.sub3hf{c )-} {c -(}1.sub4hf{c )-} {c -(}1.postsub1hf{c )-} , cluster(id1)  nograph noci
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(id1)

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.presub2hf

{txt}{col 37}t(37894) = {res}    0.8560
{col 37}{txt}Prob>|t| = {res}    0.2583

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.presub1hf

{txt}{col 37}t(37894) = {res}    0.2775
{col 37}{txt}Prob>|t| = {res}    0.7407

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.sub1hf

{txt}{col 37}t(37894) = {res}    4.3708
{col 37}{txt}Prob>|t| = {res}    0.0000

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.sub2hf

{txt}{col 37}t(37894) = {res}    4.4536
{col 37}{txt}Prob>|t| = {res}    0.0000

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.sub3hf

{txt}{col 37}t(37894) = {res}   -0.3011
{col 37}{txt}Prob>|t| = {res}    0.7117

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.sub4hf

{txt}{col 37}t(37894) = {res}   -4.4778
{col 37}{txt}Prob>|t| = {res}    0.0000

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.postsub1hf

{txt}{col 37}t(37894) = {res}   -0.2817
{col 37}{txt}Prob>|t| = {res}    0.7107
{txt}
{com}. *Subcluster bootstrap by country-product, unrestricted
.                 boottest        {c -(}1.presub2hf{c )-} {c -(}1.presub1hf{c )-} {c -(} 1.sub1hf{c )-} {c -(} 1.sub2hf{c )-} {c -(}1.sub3hf{c )-} {c -(}1.sub4hf{c )-} {c -(}1.postsub1hf{c )-} , cluster(id1)  nograph                                                                        nonull
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(id1)
{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.presub2hf

{txt}{col 37}t(37894) = {res}    0.8560
{col 37}{txt}Prob>|t| = {res}    0.2753

95%{txt} confidence set for null hypothesis expression: [{res}-.03773{txt}, {res}.1399{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.presub1hf

{txt}{col 37}t(37894) = {res}    0.2775
{col 37}{txt}Prob>|t| = {res}    0.7107

95%{txt} confidence set for null hypothesis expression: [{res}-.07644{txt}, {res}.1101{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.sub1hf

{txt}{col 37}t(37894) = {res}    4.3708
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}.1757{txt}, {res}.3592{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.sub2hf

{txt}{col 37}t(37894) = {res}    4.4536
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}.179{txt}, {res}.352{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.sub3hf

{txt}{col 37}t(37894) = {res}   -0.3011
{col 37}{txt}Prob>|t| = {res}    0.7007

95%{txt} confidence set for null hypothesis expression: [{res}-.1086{txt}, {res}.07425{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.sub4hf

{txt}{col 37}t(37894) = {res}   -4.4778
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}-.3471{txt}, {res}-.164{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.postsub1hf

{txt}{col 37}t(37894) = {res}   -0.2817
{col 37}{txt}Prob>|t| = {res}    0.7227

95%{txt} confidence set for null hypothesis expression: [{res}-.1061{txt}, {res}.07311{txt}]
{res}{txt}
{com}.                 
. restore
{txt}
{com}. 
. *++++++++++++++
. *+  HR, 2015 ++
. *+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
. 
. preserve 
{txt}
{com}. 
. egen cmt=group(country month treatc)
{txt}
{com}. tabulate cmt, gen(b)

{txt}group(count {c |}
   ry month {c |}
    treatc) {c |}      Freq.     Percent        Cum.
{hline 12}{c +}{hline 35}
          1 {c |}{res}     36,722        1.46        1.46
{txt}          2 {c |}{res}      6,225        0.25        1.71
{txt}          3 {c |}{res}     35,192        1.40        3.11
{txt}          4 {c |}{res}      5,433        0.22        3.33
{txt}          5 {c |}{res}     35,192        1.40        4.73
{txt}          6 {c |}{res}      5,433        0.22        4.94
{txt}          7 {c |}{res}     35,192        1.40        6.34
{txt}          8 {c |}{res}      5,433        0.22        6.56
{txt}          9 {c |}{res}     35,192        1.40        7.96
{txt}         10 {c |}{res}      5,433        0.22        8.17
{txt}         11 {c |}{res}     35,192        1.40        9.57
{txt}         12 {c |}{res}      5,433        0.22        9.79
{txt}         13 {c |}{res}     35,192        1.40       11.19
{txt}         14 {c |}{res}      5,433        0.22       11.41
{txt}         15 {c |}{res}     35,192        1.40       12.81
{txt}         16 {c |}{res}      5,433        0.22       13.02
{txt}         17 {c |}{res}     35,192        1.40       14.42
{txt}         18 {c |}{res}      5,433        0.22       14.64
{txt}         19 {c |}{res}     35,192        1.40       16.04
{txt}         20 {c |}{res}      5,433        0.22       16.26
{txt}         21 {c |}{res}     35,192        1.40       17.66
{txt}         22 {c |}{res}      5,433        0.22       17.87
{txt}         23 {c |}{res}     35,192        1.40       19.27
{txt}         24 {c |}{res}      5,433        0.22       19.49
{txt}         25 {c |}{res}     14,212        0.57       20.05
{txt}         26 {c |}{res}      1,555        0.06       20.12
{txt}         27 {c |}{res}     13,774        0.55       20.66
{txt}         28 {c |}{res}      1,357        0.05       20.72
{txt}         29 {c |}{res}     13,774        0.55       21.27
{txt}         30 {c |}{res}      1,357        0.05       21.32
{txt}         31 {c |}{res}     13,774        0.55       21.87
{txt}         32 {c |}{res}      1,357        0.05       21.92
{txt}         33 {c |}{res}     13,774        0.55       22.47
{txt}         34 {c |}{res}      1,357        0.05       22.52
{txt}         35 {c |}{res}     13,774        0.55       23.07
{txt}         36 {c |}{res}      1,357        0.05       23.13
{txt}         37 {c |}{res}     13,774        0.55       23.67
{txt}         38 {c |}{res}      1,357        0.05       23.73
{txt}         39 {c |}{res}     13,774        0.55       24.28
{txt}         40 {c |}{res}      1,357        0.05       24.33
{txt}         41 {c |}{res}     13,774        0.55       24.88
{txt}         42 {c |}{res}      1,357        0.05       24.93
{txt}         43 {c |}{res}     13,774        0.55       25.48
{txt}         44 {c |}{res}      1,357        0.05       25.53
{txt}         45 {c |}{res}     13,774        0.55       26.08
{txt}         46 {c |}{res}      1,357        0.05       26.14
{txt}         47 {c |}{res}     13,774        0.55       26.68
{txt}         48 {c |}{res}      1,357        0.05       26.74
{txt}         49 {c |}{res}     30,561        1.22       27.95
{txt}         50 {c |}{res}      3,120        0.12       28.08
{txt}         51 {c |}{res}     29,583        1.18       29.26
{txt}         52 {c |}{res}      2,722        0.11       29.36
{txt}         53 {c |}{res}     29,583        1.18       30.54
{txt}         54 {c |}{res}      2,722        0.11       30.65
{txt}         55 {c |}{res}     29,583        1.18       31.83
{txt}         56 {c |}{res}      2,722        0.11       31.93
{txt}         57 {c |}{res}     29,583        1.18       33.11
{txt}         58 {c |}{res}      2,722        0.11       33.22
{txt}         59 {c |}{res}     29,583        1.18       34.40
{txt}         60 {c |}{res}      2,722        0.11       34.51
{txt}         61 {c |}{res}     29,583        1.18       35.68
{txt}         62 {c |}{res}      2,722        0.11       35.79
{txt}         63 {c |}{res}     29,583        1.18       36.97
{txt}         64 {c |}{res}      2,722        0.11       37.08
{txt}         65 {c |}{res}     29,583        1.18       38.25
{txt}         66 {c |}{res}      2,722        0.11       38.36
{txt}         67 {c |}{res}     29,583        1.18       39.54
{txt}         68 {c |}{res}      2,722        0.11       39.65
{txt}         69 {c |}{res}     29,583        1.18       40.82
{txt}         70 {c |}{res}      2,722        0.11       40.93
{txt}         71 {c |}{res}     29,583        1.18       42.11
{txt}         72 {c |}{res}      2,722        0.11       42.22
{txt}         73 {c |}{res}     39,770        1.58       43.80
{txt}         74 {c |}{res}      6,496        0.26       44.06
{txt}         75 {c |}{res}     38,198        1.52       45.58
{txt}         76 {c |}{res}      5,655        0.22       45.80
{txt}         77 {c |}{res}     38,198        1.52       47.32
{txt}         78 {c |}{res}      5,655        0.22       47.55
{txt}         79 {c |}{res}     38,198        1.52       49.07
{txt}         80 {c |}{res}      5,655        0.22       49.29
{txt}         81 {c |}{res}     38,198        1.52       50.81
{txt}         82 {c |}{res}      5,655        0.22       51.04
{txt}         83 {c |}{res}     38,198        1.52       52.56
{txt}         84 {c |}{res}      5,655        0.22       52.78
{txt}         85 {c |}{res}     38,198        1.52       54.30
{txt}         86 {c |}{res}      5,655        0.22       54.53
{txt}         87 {c |}{res}     38,198        1.52       56.05
{txt}         88 {c |}{res}      5,655        0.22       56.27
{txt}         89 {c |}{res}     38,198        1.52       57.79
{txt}         90 {c |}{res}      5,655        0.22       58.02
{txt}         91 {c |}{res}     38,198        1.52       59.54
{txt}         92 {c |}{res}      5,655        0.22       59.76
{txt}         93 {c |}{res}     38,198        1.52       61.28
{txt}         94 {c |}{res}      5,655        0.22       61.51
{txt}         95 {c |}{res}     38,198        1.52       63.03
{txt}         96 {c |}{res}      5,655        0.22       63.25
{txt}         97 {c |}{res}     24,482        0.97       64.22
{txt}         98 {c |}{res}      2,658        0.11       64.33
{txt}         99 {c |}{res}     23,658        0.94       65.27
{txt}        100 {c |}{res}      2,326        0.09       65.36
{txt}        101 {c |}{res}     23,658        0.94       66.31
{txt}        102 {c |}{res}      2,326        0.09       66.40
{txt}        103 {c |}{res}     23,658        0.94       67.34
{txt}        104 {c |}{res}      2,326        0.09       67.43
{txt}        105 {c |}{res}     23,658        0.94       68.37
{txt}        106 {c |}{res}      2,326        0.09       68.47
{txt}        107 {c |}{res}     23,658        0.94       69.41
{txt}        108 {c |}{res}      2,326        0.09       69.50
{txt}        109 {c |}{res}     23,658        0.94       70.44
{txt}        110 {c |}{res}      2,326        0.09       70.53
{txt}        111 {c |}{res}     23,658        0.94       71.47
{txt}        112 {c |}{res}      2,326        0.09       71.57
{txt}        113 {c |}{res}     23,658        0.94       72.51
{txt}        114 {c |}{res}      2,326        0.09       72.60
{txt}        115 {c |}{res}     23,658        0.94       73.54
{txt}        116 {c |}{res}      2,326        0.09       73.63
{txt}        117 {c |}{res}     23,658        0.94       74.58
{txt}        118 {c |}{res}      2,326        0.09       74.67
{txt}        119 {c |}{res}     23,658        0.94       75.61
{txt}        120 {c |}{res}      2,326        0.09       75.70
{txt}        121 {c |}{res}     23,358        0.93       76.63
{txt}        122 {c |}{res}      1,689        0.07       76.70
{txt}        123 {c |}{res}     22,543        0.90       77.60
{txt}        124 {c |}{res}      1,467        0.06       77.65
{txt}        125 {c |}{res}     22,543        0.90       78.55
{txt}        126 {c |}{res}      1,467        0.06       78.61
{txt}        127 {c |}{res}     22,543        0.90       79.51
{txt}        128 {c |}{res}      1,467        0.06       79.57
{txt}        129 {c |}{res}     22,543        0.90       80.46
{txt}        130 {c |}{res}      1,467        0.06       80.52
{txt}        131 {c |}{res}     22,543        0.90       81.42
{txt}        132 {c |}{res}      1,467        0.06       81.48
{txt}        133 {c |}{res}     22,543        0.90       82.37
{txt}        134 {c |}{res}      1,467        0.06       82.43
{txt}        135 {c |}{res}     22,543        0.90       83.33
{txt}        136 {c |}{res}      1,467        0.06       83.39
{txt}        137 {c |}{res}     22,543        0.90       84.28
{txt}        138 {c |}{res}      1,467        0.06       84.34
{txt}        139 {c |}{res}     22,543        0.90       85.24
{txt}        140 {c |}{res}      1,467        0.06       85.30
{txt}        141 {c |}{res}     22,543        0.90       86.19
{txt}        142 {c |}{res}      1,467        0.06       86.25
{txt}        143 {c |}{res}     22,543        0.90       87.15
{txt}        144 {c |}{res}      1,467        0.06       87.21
{txt}        145 {c |}{res}      8,647        0.34       87.55
{txt}        146 {c |}{res}      1,063        0.04       87.59
{txt}        147 {c |}{res}      8,312        0.33       87.92
{txt}        148 {c |}{res}        934        0.04       87.96
{txt}        149 {c |}{res}      8,312        0.33       88.29
{txt}        150 {c |}{res}        934        0.04       88.33
{txt}        151 {c |}{res}      8,312        0.33       88.66
{txt}        152 {c |}{res}        934        0.04       88.70
{txt}        153 {c |}{res}      8,312        0.33       89.03
{txt}        154 {c |}{res}        934        0.04       89.07
{txt}        155 {c |}{res}      8,312        0.33       89.40
{txt}        156 {c |}{res}        934        0.04       89.43
{txt}        157 {c |}{res}      8,312        0.33       89.76
{txt}        158 {c |}{res}        934        0.04       89.80
{txt}        159 {c |}{res}      8,312        0.33       90.13
{txt}        160 {c |}{res}        934        0.04       90.17
{txt}        161 {c |}{res}      8,312        0.33       90.50
{txt}        162 {c |}{res}        934        0.04       90.54
{txt}        163 {c |}{res}      8,312        0.33       90.87
{txt}        164 {c |}{res}        934        0.04       90.90
{txt}        165 {c |}{res}      8,312        0.33       91.24
{txt}        166 {c |}{res}        934        0.04       91.27
{txt}        167 {c |}{res}      8,312        0.33       91.60
{txt}        168 {c |}{res}        934        0.04       91.64
{txt}        169 {c |}{res}     16,351        0.65       92.29
{txt}        170 {c |}{res}      1,731        0.07       92.36
{txt}        171 {c |}{res}     15,925        0.63       92.99
{txt}        172 {c |}{res}      1,532        0.06       93.05
{txt}        173 {c |}{res}     15,925        0.63       93.69
{txt}        174 {c |}{res}      1,532        0.06       93.75
{txt}        175 {c |}{res}     15,925        0.63       94.38
{txt}        176 {c |}{res}      1,532        0.06       94.44
{txt}        177 {c |}{res}     15,925        0.63       95.08
{txt}        178 {c |}{res}      1,532        0.06       95.14
{txt}        179 {c |}{res}     15,925        0.63       95.77
{txt}        180 {c |}{res}      1,532        0.06       95.83
{txt}        181 {c |}{res}     15,925        0.63       96.47
{txt}        182 {c |}{res}      1,532        0.06       96.53
{txt}        183 {c |}{res}     15,925        0.63       97.16
{txt}        184 {c |}{res}      1,532        0.06       97.22
{txt}        185 {c |}{res}     15,925        0.63       97.86
{txt}        186 {c |}{res}      1,532        0.06       97.92
{txt}        187 {c |}{res}     15,925        0.63       98.55
{txt}        188 {c |}{res}      1,532        0.06       98.61
{txt}        189 {c |}{res}     15,925        0.63       99.24
{txt}        190 {c |}{res}      1,532        0.06       99.31
{txt}        191 {c |}{res}     15,925        0.63       99.94
{txt}        192 {c |}{res}      1,532        0.06      100.00
{txt}{hline 12}{c +}{hline 35}
      Total {c |}{res}  2,513,361      100.00
{txt}
{com}.         
.         
. *Product        
. reghdfe dlogunits i.presub3c##ib1.treatc i.presub2c##ib1.treatc i.presub1c##ib1.treatc i.sub1c##ib1.treatc i.postsub1c##ib1.treatc i.postsub2c##ib1.treatc i.postsub3c##ib1.treatc i.postsub4c##ib1.treatc i.postsub5c##ib1.treatc i.postsub6c##ib1.treatc  i.postsub7c##ib1.treatc mage mage2  if country!="Hungary" , absorb (id2 cmt) cluster(id)
{res}{txt}(dropped 320566 {browse "http://scorreia.com/research/singletons.pdf":singleton observations})
{res}{txt}note: {res}0bn.treatc{txt} is probably collinear with the fixed effects (all partialled-out values are close to zero; tol = 1.0e-09)
{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 56 iterations)
{res}{txt}note: 0.treatc omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}   670,881
{txt}Absorbing 2 HDFE groups{col 51}F({res}  24{txt},{res}  16458{txt}){col 67}= {res}     17.20
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.4664
{txt}{col 51}Adj R-squared{col 67}= {res}    0.0755
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0010
{txt}{col 1}Number of clusters ({res}id{txt}) {col 30}= {res}    16,459{txt}{col 51}Root MSE{col 67}= {res}    0.7070

{txt}{ralign 82:(Std. Err. adjusted for {res:16,459} clusters in id)}
{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 18}{c |}{col 30}    Robust
{col 1}       dlogunits{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      t{col 50}   P>|t|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 6}1.presub3c {c |}{col 18}{res}{space 2} .0116494{col 30}{space 2} .1235504{col 41}{space 1}    0.09{col 50}{space 3}0.925{col 58}{space 4}-.2305227{col 71}{space 3} .2538216
{txt}{space 8}0.treatc {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 16} {c |}
{space 1}presub3c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.0601339{col 30}{space 2} .1348047{col 41}{space 1}   -0.45{col 50}{space 3}0.656{col 58}{space 4}-.3243656{col 71}{space 3} .2040978
{txt}{space 16} {c |}
{space 6}1.presub2c {c |}{col 18}{res}{space 2}-.0724197{col 30}{space 2} .1131507{col 41}{space 1}   -0.64{col 50}{space 3}0.522{col 58}{space 4}-.2942073{col 71}{space 3} .1493679
{txt}{space 16} {c |}
{space 1}presub2c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .1603108{col 30}{space 2}  .127044{col 41}{space 1}    1.26{col 50}{space 3}0.207{col 58}{space 4}-.0887091{col 71}{space 3} .4093308
{txt}{space 16} {c |}
{space 6}1.presub1c {c |}{col 18}{res}{space 2}-.0729138{col 30}{space 2} .1082705{col 41}{space 1}   -0.67{col 50}{space 3}0.501{col 58}{space 4}-.2851357{col 71}{space 3} .1393081
{txt}{space 16} {c |}
{space 1}presub1c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .1018784{col 30}{space 2} .1189988{col 41}{space 1}    0.86{col 50}{space 3}0.392{col 58}{space 4}-.1313721{col 71}{space 3} .3351289
{txt}{space 16} {c |}
{space 9}1.sub1c {c |}{col 18}{res}{space 2} .9188799{col 30}{space 2} .0916724{col 41}{space 1}   10.02{col 50}{space 3}0.000{col 58}{space 4} .7391921{col 71}{space 3} 1.098568
{txt}{space 16} {c |}
{space 4}sub1c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.8250263{col 30}{space 2}  .104071{col 41}{space 1}   -7.93{col 50}{space 3}0.000{col 58}{space 4}-1.029017{col 71}{space 3}-.6210357
{txt}{space 16} {c |}
{space 5}1.postsub1c {c |}{col 18}{res}{space 2}-.8539319{col 30}{space 2}  .098882{col 41}{space 1}   -8.64{col 50}{space 3}0.000{col 58}{space 4}-1.047751{col 71}{space 3}-.6601126
{txt}{space 16} {c |}
postsub1c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .7707895{col 30}{space 2} .1111078{col 41}{space 1}    6.94{col 50}{space 3}0.000{col 58}{space 4} .5530061{col 71}{space 3} .9885728
{txt}{space 16} {c |}
{space 5}1.postsub2c {c |}{col 18}{res}{space 2} .0632388{col 30}{space 2}  .103952{col 41}{space 1}    0.61{col 50}{space 3}0.543{col 58}{space 4}-.1405183{col 71}{space 3} .2669959
{txt}{space 16} {c |}
postsub2c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.0955052{col 30}{space 2} .1127501{col 41}{space 1}   -0.85{col 50}{space 3}0.397{col 58}{space 4}-.3165076{col 71}{space 3} .1254973
{txt}{space 16} {c |}
{space 5}1.postsub3c {c |}{col 18}{res}{space 2}-.4509924{col 30}{space 2}  .105761{col 41}{space 1}   -4.26{col 50}{space 3}0.000{col 58}{space 4}-.6582954{col 71}{space 3}-.2436893
{txt}{space 16} {c |}
postsub3c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .3656009{col 30}{space 2} .1153233{col 41}{space 1}    3.17{col 50}{space 3}0.002{col 58}{space 4} .1395548{col 71}{space 3} .5916471
{txt}{space 16} {c |}
{space 5}1.postsub4c {c |}{col 18}{res}{space 2} 1.028503{col 30}{space 2} .1087658{col 41}{space 1}    9.46{col 50}{space 3}0.000{col 58}{space 4} .8153102{col 71}{space 3} 1.241696
{txt}{space 16} {c |}
postsub4c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.9848188{col 30}{space 2} .1200901{col 41}{space 1}   -8.20{col 50}{space 3}0.000{col 58}{space 4}-1.220208{col 71}{space 3}-.7494293
{txt}{space 16} {c |}
{space 5}1.postsub5c {c |}{col 18}{res}{space 2}-.6682729{col 30}{space 2} .1078439{col 41}{space 1}   -6.20{col 50}{space 3}0.000{col 58}{space 4}-.8796586{col 71}{space 3}-.4568871
{txt}{space 16} {c |}
postsub5c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .5639721{col 30}{space 2} .1183566{col 41}{space 1}    4.77{col 50}{space 3}0.000{col 58}{space 4} .3319804{col 71}{space 3} .7959637
{txt}{space 16} {c |}
{space 5}1.postsub6c {c |}{col 18}{res}{space 2} .1090597{col 30}{space 2} .1071874{col 41}{space 1}    1.02{col 50}{space 3}0.309{col 58}{space 4}-.1010393{col 71}{space 3} .3191587
{txt}{space 16} {c |}
postsub6c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.1100475{col 30}{space 2}  .117392{col 41}{space 1}   -0.94{col 50}{space 3}0.349{col 58}{space 4}-.3401486{col 71}{space 3} .1200536
{txt}{space 16} {c |}
{space 5}1.postsub7c {c |}{col 18}{res}{space 2}-.0873337{col 30}{space 2}  .105091{col 41}{space 1}   -0.83{col 50}{space 3}0.406{col 58}{space 4}-.2933235{col 71}{space 3} .1186561
{txt}{space 16} {c |}
postsub7c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .0364265{col 30}{space 2}  .117483{col 41}{space 1}    0.31{col 50}{space 3}0.757{col 58}{space 4} -.193853{col 71}{space 3} .2667059
{txt}{space 16} {c |}
{space 12}mage {c |}{col 18}{res}{space 2}-.0029825{col 30}{space 2} .0003077{col 41}{space 1}   -9.69{col 50}{space 3}0.000{col 58}{space 4}-.0035857{col 71}{space 3}-.0023794
{txt}{space 11}mage2 {c |}{col 18}{res}{space 2} .0000246{col 30}{space 2} 3.55e-06{col 41}{space 1}    6.92{col 50}{space 3}0.000{col 58}{space 4} .0000176{col 71}{space 3} .0000315
{txt}{space 11}_cons {c |}{col 18}{res}{space 2}  .037813{col 30}{space 2} .0050031{col 41}{space 1}    7.56{col 50}{space 3}0.000{col 58}{space 4} .0280065{col 71}{space 3} .0476195
{txt}{hline 17}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}         id2{col 14}{c |}{space 1}   283431{col 27}{space 1}   283431{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}         cmt{col 14}{c |}{space 1}      168{col 27}{space 1}        0{col 39}{result}{space 1}      168{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}. est store subu
{txt}
{com}.         
. *Country-date
. reghdfe dlogunits  i.presub2c##ib1.treatc i.presub1c##ib1.treatc i.sub1c##ib1.treatc i.postsub1c##ib1.treatc i.postsub2c##ib1.treatc i.postsub3c##ib1.treatc i.postsub4c##ib1.treatc i.postsub5c##ib1.treatc i.postsub6c##ib1.treatc  mage mage2  if country!="Hungary" , absorb (id2 cmt) cluster(cd)
{res}{txt}(dropped 320566 {browse "http://scorreia.com/research/singletons.pdf":singleton observations})
{res}{txt}note: {res}0bn.treatc{txt} is probably collinear with the fixed effects (all partialled-out values are close to zero; tol = 1.0e-09)
{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 56 iterations)
{res}{txt}note: 0.treatc omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}   670,881
{txt}Absorbing 2 HDFE groups{col 51}F({res}  20{txt},{res}   1043{txt}){col 67}= {res}     34.77
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.4664
{txt}{col 51}Adj R-squared{col 67}= {res}    0.0756
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0010
{txt}{col 1}Number of clusters ({res}cd{txt}) {col 30}= {res}     1,044{txt}{col 51}Root MSE{col 67}= {res}    0.7070

{txt}{ralign 82:(Std. Err. adjusted for {res:1,044} clusters in cd)}
{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 18}{c |}{col 30}    Robust
{col 1}       dlogunits{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      t{col 50}   P>|t|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 6}1.presub2c {c |}{col 18}{res}{space 2}-.0724203{col 30}{space 2} .0804446{col 41}{space 1}   -0.90{col 50}{space 3}0.368{col 58}{space 4}-.2302719{col 71}{space 3} .0854313
{txt}{space 8}0.treatc {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 16} {c |}
{space 1}presub2c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .1603129{col 30}{space 2} .1007795{col 41}{space 1}    1.59{col 50}{space 3}0.112{col 58}{space 4}-.0374407{col 71}{space 3} .3580665
{txt}{space 16} {c |}
{space 6}1.presub1c {c |}{col 18}{res}{space 2}-.0729146{col 30}{space 2} .1002997{col 41}{space 1}   -0.73{col 50}{space 3}0.467{col 58}{space 4}-.2697267{col 71}{space 3} .1238975
{txt}{space 16} {c |}
{space 1}presub1c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .1018812{col 30}{space 2} .0900668{col 41}{space 1}    1.13{col 50}{space 3}0.258{col 58}{space 4}-.0748515{col 71}{space 3} .2786139
{txt}{space 16} {c |}
{space 9}1.sub1c {c |}{col 18}{res}{space 2} .9188794{col 30}{space 2} .0743769{col 41}{space 1}   12.35{col 50}{space 3}0.000{col 58}{space 4} .7729341{col 71}{space 3} 1.064825
{txt}{space 16} {c |}
{space 4}sub1c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.8250223{col 30}{space 2} .0779046{col 41}{space 1}  -10.59{col 50}{space 3}0.000{col 58}{space 4}-.9778899{col 71}{space 3}-.6721548
{txt}{space 16} {c |}
{space 5}1.postsub1c {c |}{col 18}{res}{space 2}-.8539323{col 30}{space 2} .0836189{col 41}{space 1}  -10.21{col 50}{space 3}0.000{col 58}{space 4}-1.018013{col 71}{space 3}-.6898519
{txt}{space 16} {c |}
postsub1c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .7707919{col 30}{space 2} .0822592{col 41}{space 1}    9.37{col 50}{space 3}0.000{col 58}{space 4} .6093795{col 71}{space 3} .9322043
{txt}{space 16} {c |}
{space 5}1.postsub2c {c |}{col 18}{res}{space 2} .0632387{col 30}{space 2} .0741689{col 41}{space 1}    0.85{col 50}{space 3}0.394{col 58}{space 4}-.0822986{col 71}{space 3}  .208776
{txt}{space 16} {c |}
postsub2c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.0955023{col 30}{space 2} .1030183{col 41}{space 1}   -0.93{col 50}{space 3}0.354{col 58}{space 4} -.297649{col 71}{space 3} .1066444
{txt}{space 16} {c |}
{space 5}1.postsub3c {c |}{col 18}{res}{space 2}-.4509923{col 30}{space 2} .0735721{col 41}{space 1}   -6.13{col 50}{space 3}0.000{col 58}{space 4}-.5953586{col 71}{space 3}-.3066261
{txt}{space 16} {c |}
postsub3c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .3656042{col 30}{space 2} .0674143{col 41}{space 1}    5.42{col 50}{space 3}0.000{col 58}{space 4} .2333212{col 71}{space 3} .4978873
{txt}{space 16} {c |}
{space 5}1.postsub4c {c |}{col 18}{res}{space 2} 1.028503{col 30}{space 2} .0774355{col 41}{space 1}   13.28{col 50}{space 3}0.000{col 58}{space 4} .8765559{col 71}{space 3}  1.18045
{txt}{space 16} {c |}
postsub4c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.9848161{col 30}{space 2} .0715861{col 41}{space 1}  -13.76{col 50}{space 3}0.000{col 58}{space 4}-1.125285{col 71}{space 3}-.8443469
{txt}{space 16} {c |}
{space 5}1.postsub5c {c |}{col 18}{res}{space 2}-.6682729{col 30}{space 2} .0577688{col 41}{space 1}  -11.57{col 50}{space 3}0.000{col 58}{space 4}-.7816293{col 71}{space 3}-.5549166
{txt}{space 16} {c |}
postsub5c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .5639746{col 30}{space 2} .0730256{col 41}{space 1}    7.72{col 50}{space 3}0.000{col 58}{space 4} .4206808{col 71}{space 3} .7072685
{txt}{space 16} {c |}
{space 5}1.postsub6c {c |}{col 18}{res}{space 2} .1090597{col 30}{space 2} .0666207{col 41}{space 1}    1.64{col 50}{space 3}0.102{col 58}{space 4}-.0216662{col 71}{space 3} .2397856
{txt}{space 16} {c |}
postsub6c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} -.110045{col 30}{space 2} .0775306{col 41}{space 1}   -1.42{col 50}{space 3}0.156{col 58}{space 4}-.2621788{col 71}{space 3} .0420888
{txt}{space 16} {c |}
{space 12}mage {c |}{col 18}{res}{space 2}-.0029842{col 30}{space 2} .0005382{col 41}{space 1}   -5.54{col 50}{space 3}0.000{col 58}{space 4}-.0040403{col 71}{space 3} -.001928
{txt}{space 11}mage2 {c |}{col 18}{res}{space 2} .0000246{col 30}{space 2} 5.99e-06{col 41}{space 1}    4.11{col 50}{space 3}0.000{col 58}{space 4} .0000128{col 71}{space 3} .0000364
{txt}{space 11}_cons {c |}{col 18}{res}{space 2} .0377662{col 30}{space 2} .0092777{col 41}{space 1}    4.07{col 50}{space 3}0.000{col 58}{space 4} .0195612{col 71}{space 3} .0559712
{txt}{hline 17}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}         id2{col 14}{c |}{space 1}   283431{col 27}{space 1}        0{col 39}{result}{space 1}   283431{col 53}{text} {col 54}{c |}
{res}{col 1}{text}         cmt{col 14}{c |}{space 1}      168{col 27}{space 1}       14{col 39}{result}{space 1}      154{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
{res}{txt}
{com}. est store subu1
{txt}
{com}. 
. *Country
. reghdfe dlogunits  i.presub2c##ib1.treatc i.presub1c##ib1.treatc i.sub1c##ib1.treatc i.postsub1c##ib1.treatc i.postsub2c##ib1.treatc i.postsub3c##ib1.treatc i.postsub4c##ib1.treatc i.postsub5c##ib1.treatc i.postsub6c##ib1.treatc   mage mage2  if country!="Hungary" , absorb (id2 cmt) cluster(country)
{res}{txt}(dropped 320566 {browse "http://scorreia.com/research/singletons.pdf":singleton observations})
{res}{txt}note: {res}0bn.treatc{txt} is probably collinear with the fixed effects (all partialled-out values are close to zero; tol = 1.0e-09)
{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 56 iterations)
{res}{txt}warning: missing F statistic; dropped variables due to collinearity or too few clusters
{txt}note: 0.treatc omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}   670,881
{txt}Absorbing 2 HDFE groups{col 51}{help j_robustsingular##|_new:F(  20,      6)}{col 67}=          {res}.
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}=          {res}.
{txt}{col 51}R-squared{col 67}= {res}    0.4664
{txt}{col 51}Adj R-squared{col 67}= {res}    0.0755
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0010
{txt}{col 1}Number of clusters ({res}country{txt}) {col 30}= {res}         7{txt}{col 51}Root MSE{col 67}= {res}    0.7070

{txt}{ralign 82:(Std. Err. adjusted for {res:7} clusters in country)}
{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 18}{c |}{col 30}    Robust
{col 1}       dlogunits{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      t{col 50}   P>|t|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 6}1.presub2c {c |}{col 18}{res}{space 2}-.0724203{col 30}{space 2} .0610722{col 41}{space 1}   -1.19{col 50}{space 3}0.281{col 58}{space 4}-.2218587{col 71}{space 3} .0770181
{txt}{space 8}0.treatc {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 16} {c |}
{space 1}presub2c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .1603129{col 30}{space 2} .0753739{col 41}{space 1}    2.13{col 50}{space 3}0.078{col 58}{space 4}-.0241204{col 71}{space 3} .3447462
{txt}{space 16} {c |}
{space 6}1.presub1c {c |}{col 18}{res}{space 2}-.0729146{col 30}{space 2}  .113989{col 41}{space 1}   -0.64{col 50}{space 3}0.546{col 58}{space 4}-.3518355{col 71}{space 3} .2060063
{txt}{space 16} {c |}
{space 1}presub1c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .1018812{col 30}{space 2} .0972058{col 41}{space 1}    1.05{col 50}{space 3}0.335{col 58}{space 4}-.1359729{col 71}{space 3} .3397353
{txt}{space 16} {c |}
{space 9}1.sub1c {c |}{col 18}{res}{space 2} .9188794{col 30}{space 2}  .086303{col 41}{space 1}   10.65{col 50}{space 3}0.000{col 58}{space 4} .7077035{col 71}{space 3} 1.130055
{txt}{space 16} {c |}
{space 4}sub1c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.8250223{col 30}{space 2} .0849641{col 41}{space 1}   -9.71{col 50}{space 3}0.000{col 58}{space 4}-1.032922{col 71}{space 3}-.6171225
{txt}{space 16} {c |}
{space 5}1.postsub1c {c |}{col 18}{res}{space 2}-.8539323{col 30}{space 2} .0793448{col 41}{space 1}  -10.76{col 50}{space 3}0.000{col 58}{space 4}-1.048082{col 71}{space 3}-.6597827
{txt}{space 16} {c |}
postsub1c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .7707919{col 30}{space 2} .0513211{col 41}{space 1}   15.02{col 50}{space 3}0.000{col 58}{space 4} .6452137{col 71}{space 3} .8963701
{txt}{space 16} {c |}
{space 5}1.postsub2c {c |}{col 18}{res}{space 2} .0632387{col 30}{space 2} .0807527{col 41}{space 1}    0.78{col 50}{space 3}0.463{col 58}{space 4} -.134356{col 71}{space 3} .2608333
{txt}{space 16} {c |}
postsub2c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.0955023{col 30}{space 2} .1171252{col 41}{space 1}   -0.82{col 50}{space 3}0.446{col 58}{space 4}-.3820973{col 71}{space 3} .1910927
{txt}{space 16} {c |}
{space 5}1.postsub3c {c |}{col 18}{res}{space 2}-.4509923{col 30}{space 2} .0770855{col 41}{space 1}   -5.85{col 50}{space 3}0.001{col 58}{space 4}-.6396137{col 71}{space 3} -.262371
{txt}{space 16} {c |}
postsub3c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .3656042{col 30}{space 2} .0823668{col 41}{space 1}    4.44{col 50}{space 3}0.004{col 58}{space 4} .1640599{col 71}{space 3} .5671485
{txt}{space 16} {c |}
{space 5}1.postsub4c {c |}{col 18}{res}{space 2} 1.028503{col 30}{space 2} .0763395{col 41}{space 1}   13.47{col 50}{space 3}0.000{col 58}{space 4} .8417071{col 71}{space 3} 1.215299
{txt}{space 16} {c |}
postsub4c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.9848161{col 30}{space 2} .0788104{col 41}{space 1}  -12.50{col 50}{space 3}0.000{col 58}{space 4}-1.177658{col 71}{space 3}-.7919739
{txt}{space 16} {c |}
{space 5}1.postsub5c {c |}{col 18}{res}{space 2}-.6682729{col 30}{space 2} .0486687{col 41}{space 1}  -13.73{col 50}{space 3}0.000{col 58}{space 4}-.7873611{col 71}{space 3}-.5491848
{txt}{space 16} {c |}
postsub5c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .5639746{col 30}{space 2} .0636306{col 41}{space 1}    8.86{col 50}{space 3}0.000{col 58}{space 4} .4082762{col 71}{space 3}  .719673
{txt}{space 16} {c |}
{space 5}1.postsub6c {c |}{col 18}{res}{space 2} .1090597{col 30}{space 2} .0629855{col 41}{space 1}    1.73{col 50}{space 3}0.134{col 58}{space 4}-.0450603{col 71}{space 3} .2631798
{txt}{space 16} {c |}
postsub6c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} -.110045{col 30}{space 2} .0694315{col 41}{space 1}   -1.58{col 50}{space 3}0.164{col 58}{space 4}-.2799378{col 71}{space 3} .0598478
{txt}{space 16} {c |}
{space 12}mage {c |}{col 18}{res}{space 2}-.0029842{col 30}{space 2} .0008325{col 41}{space 1}   -3.58{col 50}{space 3}0.012{col 58}{space 4}-.0050212{col 71}{space 3}-.0009472
{txt}{space 11}mage2 {c |}{col 18}{res}{space 2} .0000246{col 30}{space 2} 8.11e-06{col 41}{space 1}    3.04{col 50}{space 3}0.023{col 58}{space 4} 4.77e-06{col 71}{space 3} .0000444
{txt}{space 11}_cons {c |}{col 18}{res}{space 2} .0377662{col 30}{space 2} .0139854{col 41}{space 1}    2.70{col 50}{space 3}0.036{col 58}{space 4} .0035451{col 71}{space 3} .0719873
{txt}{hline 17}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}         id2{col 14}{c |}{space 1}   283431{col 27}{space 1}        0{col 39}{result}{space 1}   283431{col 53}{text} {col 54}{c |}
{res}{col 1}{text}         cmt{col 14}{c |}{space 1}      168{col 27}{space 1}      168{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}. est store subu2
{txt}
{com}. 
. *Country and id
. reghdfe dlogunits  i.presub2c##ib1.treatc i.presub1c##ib1.treatc i.sub1c##ib1.treatc i.postsub1c##ib1.treatc i.postsub2c##ib1.treatc i.postsub3c##ib1.treatc i.postsub4c##ib1.treatc i.postsub5c##ib1.treatc i.postsub6c##ib1.treatc   mage mage2  if country!="Hungary" , absorb (id2 cmt) cluster(country id)
{res}{txt}(dropped 320566 {browse "http://scorreia.com/research/singletons.pdf":singleton observations})
{res}{txt}note: {res}0bn.treatc{txt} is probably collinear with the fixed effects (all partialled-out values are close to zero; tol = 1.0e-09)
{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 56 iterations)
{res}{txt}Warning: VCV matrix was non-positive semi-definite; adjustment from Cameron, Gelbach & Miller applied.
{txt}note: 0.treatc omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}   670,881
{txt}Absorbing 2 HDFE groups{col 51}F({res}  20{txt},{res}      6{txt}){col 67}= {res}     27.91
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.4664
{txt}{col 51}Adj R-squared{col 67}= {res}    0.0755
{txt}{col 1}Number of clusters ({res}country{txt}) {col 30}= {res}         7{txt}{col 51}Within R-sq.{col 67}= {res}    0.0010
{txt}{col 1}Number of clusters ({res}id{txt}) {col 30}= {res}    16,459{txt}{col 51}Root MSE{col 67}= {res}    0.7070

{txt}{ralign 82:(Std. Err. adjusted for {res:7} clusters in country id)}
{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 18}{c |}{col 30}    Robust
{col 1}       dlogunits{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      t{col 50}   P>|t|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 6}1.presub2c {c |}{col 18}{res}{space 2}-.0724203{col 30}{space 2} .0822716{col 41}{space 1}   -0.88{col 50}{space 3}0.413{col 58}{space 4}-.2737317{col 71}{space 3} .1288911
{txt}{space 8}0.treatc {c |}{col 18}{res}{space 2}        0{col 30}{space 2} 5.76e-17{col 41}{space 1}    0.00{col 50}{space 3}1.000{col 58}{space 4}-1.41e-16{col 71}{space 3} 1.41e-16
{txt}{space 16} {c |}
{space 1}presub2c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .1603129{col 30}{space 2} .0971194{col 41}{space 1}    1.65{col 50}{space 3}0.150{col 58}{space 4}-.0773297{col 71}{space 3} .3979556
{txt}{space 16} {c |}
{space 6}1.presub1c {c |}{col 18}{res}{space 2}-.0729146{col 30}{space 2} .1125695{col 41}{space 1}   -0.65{col 50}{space 3}0.541{col 58}{space 4}-.3483622{col 71}{space 3}  .202533
{txt}{space 16} {c |}
{space 1}presub1c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .1018812{col 30}{space 2} .1079531{col 41}{space 1}    0.94{col 50}{space 3}0.382{col 58}{space 4}-.1622705{col 71}{space 3} .3660329
{txt}{space 16} {c |}
{space 9}1.sub1c {c |}{col 18}{res}{space 2} .9188794{col 30}{space 2} .0859189{col 41}{space 1}   10.69{col 50}{space 3}0.000{col 58}{space 4} .7086436{col 71}{space 3} 1.129115
{txt}{space 16} {c |}
{space 4}sub1c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.8250223{col 30}{space 2} .0910758{col 41}{space 1}   -9.06{col 50}{space 3}0.000{col 58}{space 4}-1.047877{col 71}{space 3} -.602168
{txt}{space 16} {c |}
{space 5}1.postsub1c {c |}{col 18}{res}{space 2}-.8539323{col 30}{space 2} .0861878{col 41}{space 1}   -9.91{col 50}{space 3}0.000{col 58}{space 4}-1.064826{col 71}{space 3}-.6430383
{txt}{space 16} {c |}
postsub1c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .7707919{col 30}{space 2} .0799807{col 41}{space 1}    9.64{col 50}{space 3}0.000{col 58}{space 4} .5750861{col 71}{space 3} .9664977
{txt}{space 16} {c |}
{space 5}1.postsub2c {c |}{col 18}{res}{space 2} .0632387{col 30}{space 2} .0913944{col 41}{space 1}    0.69{col 50}{space 3}0.515{col 58}{space 4}-.1603955{col 71}{space 3} .2868728
{txt}{space 16} {c |}
postsub2c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.0955023{col 30}{space 2} .1152434{col 41}{space 1}   -0.83{col 50}{space 3}0.439{col 58}{space 4}-.3774927{col 71}{space 3}  .186488
{txt}{space 16} {c |}
{space 5}1.postsub3c {c |}{col 18}{res}{space 2}-.4509923{col 30}{space 2} .0922743{col 41}{space 1}   -4.89{col 50}{space 3}0.003{col 58}{space 4}-.6767793{col 71}{space 3}-.2252054
{txt}{space 16} {c |}
postsub3c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .3656042{col 30}{space 2} .0992899{col 41}{space 1}    3.68{col 50}{space 3}0.010{col 58}{space 4} .1226506{col 71}{space 3} .6085578
{txt}{space 16} {c |}
{space 5}1.postsub4c {c |}{col 18}{res}{space 2} 1.028503{col 30}{space 2} .0926828{col 41}{space 1}   11.10{col 50}{space 3}0.000{col 58}{space 4} .8017166{col 71}{space 3}  1.25529
{txt}{space 16} {c |}
postsub4c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.9848161{col 30}{space 2} .0996827{col 41}{space 1}   -9.88{col 50}{space 3}0.000{col 58}{space 4}-1.228731{col 71}{space 3}-.7409014
{txt}{space 16} {c |}
{space 5}1.postsub5c {c |}{col 18}{res}{space 2}-.6682729{col 30}{space 2} .0831283{col 41}{space 1}   -8.04{col 50}{space 3}0.000{col 58}{space 4}-.8716806{col 71}{space 3}-.4648653
{txt}{space 16} {c |}
postsub5c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .5639746{col 30}{space 2} .0943793{col 41}{space 1}    5.98{col 50}{space 3}0.001{col 58}{space 4} .3330367{col 71}{space 3} .7949125
{txt}{space 16} {c |}
{space 5}1.postsub6c {c |}{col 18}{res}{space 2} .1090597{col 30}{space 2} .0877601{col 41}{space 1}    1.24{col 50}{space 3}0.260{col 58}{space 4}-.1056815{col 71}{space 3} .3238009
{txt}{space 16} {c |}
postsub6c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} -.110045{col 30}{space 2} .0955258{col 41}{space 1}   -1.15{col 50}{space 3}0.293{col 58}{space 4}-.3437882{col 71}{space 3} .1236982
{txt}{space 16} {c |}
{space 12}mage {c |}{col 18}{res}{space 2}-.0029842{col 30}{space 2} .0006673{col 41}{space 1}   -4.47{col 50}{space 3}0.004{col 58}{space 4} -.004617{col 71}{space 3}-.0013513
{txt}{space 11}mage2 {c |}{col 18}{res}{space 2} .0000246{col 30}{space 2} 6.67e-06{col 41}{space 1}    3.69{col 50}{space 3}0.010{col 58}{space 4} 8.29e-06{col 71}{space 3} .0000409
{txt}{space 11}_cons {c |}{col 18}{res}{space 2} .0377662{col 30}{space 2} .0111216{col 41}{space 1}    3.40{col 50}{space 3}0.015{col 58}{space 4} .0105525{col 71}{space 3} .0649798
{txt}{hline 17}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}         id2{col 14}{c |}{space 1}   283431{col 27}{space 1}   283431{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}         cmt{col 14}{c |}{space 1}      168{col 27}{space 1}      168{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}. est store subu3
{txt}
{com}. 
. esttab   subu subu2 subu1 subu3 , se star(* 0.10 ** 0.05 *** 0.01) mtitles nogaps b(%8.3f) t(%6.2f)  scalars(N ) order(1.presub2c 1.presub1c 1.sub1c 1.postsub1c 1.postsub2c 1.postsub3c 1.postsub4c 1.postsub5c 1.postsub6c) keep(1.presub2c 1.presub1c 1.sub1c 1.postsub1c 1.postsub2c 1.postsub3c 1.postsub4c 1.postsub5c 1.postsub6c) 
{res}
{txt}{hline 76}
{txt}                      (1)             (2)             (3)             (4)   
{txt}                     subu           subu2           subu1           subu3   
{txt}{hline 76}
{txt}1.presub2c  {res}       -0.072          -0.072          -0.072          -0.072   {txt}
            {res} {ralign 12:{txt:(}0.113{txt:)}}    {ralign 12:{txt:(}0.061{txt:)}}    {ralign 12:{txt:(}0.080{txt:)}}    {ralign 12:{txt:(}0.082{txt:)}}   {txt}
{txt}1.presub1c  {res}       -0.073          -0.073          -0.073          -0.073   {txt}
            {res} {ralign 12:{txt:(}0.108{txt:)}}    {ralign 12:{txt:(}0.114{txt:)}}    {ralign 12:{txt:(}0.100{txt:)}}    {ralign 12:{txt:(}0.113{txt:)}}   {txt}
{txt}1.sub1c     {res}        0.919***        0.919***        0.919***        0.919***{txt}
            {res} {ralign 12:{txt:(}0.092{txt:)}}    {ralign 12:{txt:(}0.086{txt:)}}    {ralign 12:{txt:(}0.074{txt:)}}    {ralign 12:{txt:(}0.086{txt:)}}   {txt}
{txt}1.postsub1c {res}       -0.854***       -0.854***       -0.854***       -0.854***{txt}
            {res} {ralign 12:{txt:(}0.099{txt:)}}    {ralign 12:{txt:(}0.079{txt:)}}    {ralign 12:{txt:(}0.084{txt:)}}    {ralign 12:{txt:(}0.086{txt:)}}   {txt}
{txt}1.postsub2c {res}        0.063           0.063           0.063           0.063   {txt}
            {res} {ralign 12:{txt:(}0.104{txt:)}}    {ralign 12:{txt:(}0.081{txt:)}}    {ralign 12:{txt:(}0.074{txt:)}}    {ralign 12:{txt:(}0.091{txt:)}}   {txt}
{txt}1.postsub3c {res}       -0.451***       -0.451***       -0.451***       -0.451***{txt}
            {res} {ralign 12:{txt:(}0.106{txt:)}}    {ralign 12:{txt:(}0.077{txt:)}}    {ralign 12:{txt:(}0.074{txt:)}}    {ralign 12:{txt:(}0.092{txt:)}}   {txt}
{txt}1.postsub4c {res}        1.029***        1.029***        1.029***        1.029***{txt}
            {res} {ralign 12:{txt:(}0.109{txt:)}}    {ralign 12:{txt:(}0.076{txt:)}}    {ralign 12:{txt:(}0.077{txt:)}}    {ralign 12:{txt:(}0.093{txt:)}}   {txt}
{txt}1.postsub5c {res}       -0.668***       -0.668***       -0.668***       -0.668***{txt}
            {res} {ralign 12:{txt:(}0.108{txt:)}}    {ralign 12:{txt:(}0.049{txt:)}}    {ralign 12:{txt:(}0.058{txt:)}}    {ralign 12:{txt:(}0.083{txt:)}}   {txt}
{txt}1.postsub6c {res}        0.109           0.109           0.109           0.109   {txt}
            {res} {ralign 12:{txt:(}0.107{txt:)}}    {ralign 12:{txt:(}0.063{txt:)}}    {ralign 12:{txt:(}0.067{txt:)}}    {ralign 12:{txt:(}0.088{txt:)}}   {txt}
{txt}{hline 76}
{txt}N           {res}       670881          670881          670881          670881   {txt}
{txt}{hline 76}
{txt}Standard errors in parentheses
{txt}* p<0.10, ** p<0.05, *** p<0.01

{com}. 
. 
. ****WILD BOOTSTRAP
. 
. xtset id2
{txt}{col 8}panel variable:  {res}id2 (unbalanced)
{txt}
{com}. 
. xtreg dlogunits  i.presub2c##ib1.treatc i.presub1c##ib1.treatc i.sub1c##ib1.treatc i.postsub1c##ib1.treatc i.postsub2c##ib1.treatc i.postsub3c##ib1.treatc i.postsub4c##ib1.treatc i.postsub5c##ib1.treatc i.postsub6c##ib1.treatc  mage mage2 b1-b192 if country!="Hungary" , fe
{p 0 6 2}{txt}note: b97 omitted because of collinearity{p_end}
{p 0 6 2}note: b98 omitted because of collinearity{p_end}
{p 0 6 2}note: b99 omitted because of collinearity{p_end}
{p 0 6 2}note: b100 omitted because of collinearity{p_end}
{p 0 6 2}note: b101 omitted because of collinearity{p_end}
{p 0 6 2}note: b102 omitted because of collinearity{p_end}
{p 0 6 2}note: b103 omitted because of collinearity{p_end}
{p 0 6 2}note: b104 omitted because of collinearity{p_end}
{p 0 6 2}note: b105 omitted because of collinearity{p_end}
{p 0 6 2}note: b106 omitted because of collinearity{p_end}
{p 0 6 2}note: b107 omitted because of collinearity{p_end}
{p 0 6 2}note: b108 omitted because of collinearity{p_end}
{p 0 6 2}note: b109 omitted because of collinearity{p_end}
{p 0 6 2}note: b110 omitted because of collinearity{p_end}
{p 0 6 2}note: b111 omitted because of collinearity{p_end}
{p 0 6 2}note: b112 omitted because of collinearity{p_end}
{p 0 6 2}note: b113 omitted because of collinearity{p_end}
{p 0 6 2}note: b114 omitted because of collinearity{p_end}
{p 0 6 2}note: b115 omitted because of collinearity{p_end}
{p 0 6 2}note: b116 omitted because of collinearity{p_end}
{p 0 6 2}note: b117 omitted because of collinearity{p_end}
{p 0 6 2}note: b118 omitted because of collinearity{p_end}
{p 0 6 2}note: b119 omitted because of collinearity{p_end}
{p 0 6 2}note: b120 omitted because of collinearity{p_end}
{p 0 6 2}note: b170 omitted because of collinearity{p_end}
{p 0 6 2}note: b172 omitted because of collinearity{p_end}
{p 0 6 2}note: b173 omitted because of collinearity{p_end}
{p 0 6 2}note: b174 omitted because of collinearity{p_end}
{p 0 6 2}note: b175 omitted because of collinearity{p_end}
{p 0 6 2}note: b176 omitted because of collinearity{p_end}
{p 0 6 2}note: b178 omitted because of collinearity{p_end}
{p 0 6 2}note: b180 omitted because of collinearity{p_end}
{p 0 6 2}note: b182 omitted because of collinearity{p_end}
{p 0 6 2}note: b184 omitted because of collinearity{p_end}
{p 0 6 2}note: b186 omitted because of collinearity{p_end}
{p 0 6 2}note: b188 omitted because of collinearity{p_end}
{p 0 6 2}note: b190 omitted because of collinearity{p_end}
{p 0 6 2}note: b191 omitted because of collinearity{p_end}
{p 0 6 2}note: b192 omitted because of collinearity{p_end}
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}   991,447
{txt}Group variable: {res}id2{txt}{col 49}Number of groups{col 67}={col 69}{res}   603,997

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.0092{col 63}{txt}min{col 67}={col 69}{res}         1
{txt}     between = {res}0.0000{col 63}{txt}avg{col 67}={col 69}{res}       1.6
{txt}     overall = {res}0.0000{col 63}{txt}max{col 67}={col 69}{res}         7

{txt}{col 49}F({res}174{txt},{res}387276{txt}){col 67}={col 70}{res}    20.58
{txt}corr(u_i, Xb){col 16}= {res}-0.6739{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       dlogunits{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      t{col 50}   P>|t|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 6}1.presub2c {c |}{col 18}{res}{space 2}-.0724203{col 30}{space 2}  .118782{col 41}{space 1}   -0.61{col 50}{space 3}0.542{col 58}{space 4}-.3052294{col 71}{space 3} .1603888
{txt}{space 8}0.treatc {c |}{col 18}{res}{space 2}-.7358512{col 30}{space 2} .6337357{col 41}{space 1}   -1.16{col 50}{space 3}0.246{col 58}{space 4}-1.977954{col 71}{space 3} .5062519
{txt}{space 16} {c |}
{space 1}presub2c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .1603129{col 30}{space 2} .1305009{col 41}{space 1}    1.23{col 50}{space 3}0.219{col 58}{space 4} -.095465{col 71}{space 3} .4160908
{txt}{space 16} {c |}
{space 6}1.presub1c {c |}{col 18}{res}{space 2}-.0729146{col 30}{space 2} .1156697{col 41}{space 1}   -0.63{col 50}{space 3}0.528{col 58}{space 4}-.2996238{col 71}{space 3} .1537946
{txt}{space 16} {c |}
{space 1}presub1c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .1018812{col 30}{space 2} .1265437{col 41}{space 1}    0.81{col 50}{space 3}0.421{col 58}{space 4}-.1461407{col 71}{space 3} .3499031
{txt}{space 16} {c |}
{space 9}1.sub1c {c |}{col 18}{res}{space 2} .9188794{col 30}{space 2} .1038453{col 41}{space 1}    8.85{col 50}{space 3}0.000{col 58}{space 4} .7153458{col 71}{space 3} 1.122413
{txt}{space 16} {c |}
{space 4}sub1c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.8250223{col 30}{space 2} .1149295{col 41}{space 1}   -7.18{col 50}{space 3}0.000{col 58}{space 4}-1.050281{col 71}{space 3}-.5997638
{txt}{space 16} {c |}
{space 5}1.postsub1c {c |}{col 18}{res}{space 2}-.8539323{col 30}{space 2} .1009568{col 41}{space 1}   -8.46{col 50}{space 3}0.000{col 58}{space 4}-1.051805{col 71}{space 3}-.6560599
{txt}{space 16} {c |}
postsub1c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .7707919{col 30}{space 2} .1124342{col 41}{space 1}    6.86{col 50}{space 3}0.000{col 58}{space 4} .5504243{col 71}{space 3} .9911596
{txt}{space 16} {c |}
{space 5}1.postsub2c {c |}{col 18}{res}{space 2} .0632387{col 30}{space 2} .1020133{col 41}{space 1}    0.62{col 50}{space 3}0.535{col 58}{space 4}-.1367043{col 71}{space 3} .2631816
{txt}{space 16} {c |}
postsub2c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.0955023{col 30}{space 2}  .112881{col 41}{space 1}   -0.85{col 50}{space 3}0.398{col 58}{space 4}-.3167457{col 71}{space 3}  .125741
{txt}{space 16} {c |}
{space 5}1.postsub3c {c |}{col 18}{res}{space 2}-.4509923{col 30}{space 2} .1058071{col 41}{space 1}   -4.26{col 50}{space 3}0.000{col 58}{space 4} -.658371{col 71}{space 3}-.2436137
{txt}{space 16} {c |}
postsub3c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .3656042{col 30}{space 2} .1166529{col 41}{space 1}    3.13{col 50}{space 3}0.002{col 58}{space 4} .1369681{col 71}{space 3} .5942403
{txt}{space 16} {c |}
{space 5}1.postsub4c {c |}{col 18}{res}{space 2} 1.028503{col 30}{space 2} .1015372{col 41}{space 1}   10.13{col 50}{space 3}0.000{col 58}{space 4} .8294933{col 71}{space 3} 1.227513
{txt}{space 16} {c |}
postsub4c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2}-.9848161{col 30}{space 2} .1133445{col 41}{space 1}   -8.69{col 50}{space 3}0.000{col 58}{space 4}-1.206968{col 71}{space 3}-.7626642
{txt}{space 16} {c |}
{space 5}1.postsub5c {c |}{col 18}{res}{space 2}-.6682729{col 30}{space 2} .0970468{col 41}{space 1}   -6.89{col 50}{space 3}0.000{col 58}{space 4}-.8584818{col 71}{space 3}-.4780641
{txt}{space 16} {c |}
postsub5c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} .5639746{col 30}{space 2} .1092254{col 41}{space 1}    5.16{col 50}{space 3}0.000{col 58}{space 4}  .349896{col 71}{space 3} .7780532
{txt}{space 16} {c |}
{space 5}1.postsub6c {c |}{col 18}{res}{space 2} .1090597{col 30}{space 2} .1004282{col 41}{space 1}    1.09{col 50}{space 3}0.278{col 58}{space 4}-.0877766{col 71}{space 3}  .305896
{txt}{space 16} {c |}
postsub6c#treatc {c |}
{space 12}1 0  {c |}{col 18}{res}{space 2} -.110045{col 30}{space 2} .1128591{col 41}{space 1}   -0.98{col 50}{space 3}0.330{col 58}{space 4}-.3312454{col 71}{space 3} .1111554
{txt}{space 16} {c |}
{space 12}mage {c |}{col 18}{res}{space 2}-.0029842{col 30}{space 2} .0004416{col 41}{space 1}   -6.76{col 50}{space 3}0.000{col 58}{space 4}-.0038496{col 71}{space 3}-.0021188
{txt}{space 11}mage2 {c |}{col 18}{res}{space 2} .0000246{col 30}{space 2} 5.14e-06{col 41}{space 1}    4.78{col 50}{space 3}0.000{col 58}{space 4} .0000145{col 71}{space 3} .0000347
{txt}{space 14}b1 {c |}{col 18}{res}{space 2} 1.861818{col 30}{space 2} .8962057{col 41}{space 1}    2.08{col 50}{space 3}0.038{col 58}{space 4}  .105282{col 71}{space 3} 3.618355
{txt}{space 14}b2 {c |}{col 18}{res}{space 2} .2797538{col 30}{space 2} .0517167{col 41}{space 1}    5.41{col 50}{space 3}0.000{col 58}{space 4} .1783905{col 71}{space 3} .3811171
{txt}{space 14}b3 {c |}{col 18}{res}{space 2}-.2648664{col 30}{space 2} .9129262{col 41}{space 1}   -0.29{col 50}{space 3}0.772{col 58}{space 4}-2.054174{col 71}{space 3} 1.524442
{txt}{space 14}b4 {c |}{col 18}{res}{space 2} .0117371{col 30}{space 2} .0593059{col 41}{space 1}    0.20{col 50}{space 3}0.843{col 58}{space 4}-.1045007{col 71}{space 3} .1279748
{txt}{space 14}b5 {c |}{col 18}{res}{space 2}-.0075387{col 30}{space 2} .0185341{col 41}{space 1}   -0.41{col 50}{space 3}0.684{col 58}{space 4}-.0438649{col 71}{space 3} .0287875
{txt}{space 14}b6 {c |}{col 18}{res}{space 2} .0774437{col 30}{space 2} .0595622{col 41}{space 1}    1.30{col 50}{space 3}0.194{col 58}{space 4}-.0392964{col 71}{space 3} .1941838
{txt}{space 14}b7 {c |}{col 18}{res}{space 2}-.0621239{col 30}{space 2}  .018293{col 41}{space 1}   -3.40{col 50}{space 3}0.001{col 58}{space 4}-.0979775{col 71}{space 3}-.0262702
{txt}{space 14}b8 {c |}{col 18}{res}{space 2}-.1270447{col 30}{space 2} .0587712{col 41}{space 1}   -2.16{col 50}{space 3}0.031{col 58}{space 4}-.2422344{col 71}{space 3}-.0118549
{txt}{space 14}b9 {c |}{col 18}{res}{space 2}-.2088291{col 30}{space 2} 1.074374{col 41}{space 1}   -0.19{col 50}{space 3}0.846{col 58}{space 4} -2.31457{col 71}{space 3} 1.896912
{txt}{space 13}b10 {c |}{col 18}{res}{space 2} .1118999{col 30}{space 2} .0576131{col 41}{space 1}    1.94{col 50}{space 3}0.052{col 58}{space 4}  -.00102{col 71}{space 3} .2248197
{txt}{space 13}b11 {c |}{col 18}{res}{space 2} .4519529{col 30}{space 2} 1.074275{col 41}{space 1}    0.42{col 50}{space 3}0.674{col 58}{space 4}-1.653593{col 71}{space 3} 2.557499
{txt}{space 13}b12 {c |}{col 18}{res}{space 2}-.2374477{col 30}{space 2} .0554429{col 41}{space 1}   -4.28{col 50}{space 3}0.000{col 58}{space 4}-.3461142{col 71}{space 3}-.1287813
{txt}{space 13}b13 {c |}{col 18}{res}{space 2} .8339888{col 30}{space 2} .9126244{col 41}{space 1}    0.91{col 50}{space 3}0.361{col 58}{space 4}-.9547278{col 71}{space 3} 2.622705
{txt}{space 13}b14 {c |}{col 18}{res}{space 2} .1714927{col 30}{space 2} .0540343{col 41}{space 1}    3.17{col 50}{space 3}0.002{col 58}{space 4} .0655871{col 71}{space 3} .2773983
{txt}{space 13}b15 {c |}{col 18}{res}{space 2} 1.115025{col 30}{space 2} .9125795{col 41}{space 1}    1.22{col 50}{space 3}0.222{col 58}{space 4}-.6736031{col 71}{space 3} 2.903654
{txt}{space 13}b16 {c |}{col 18}{res}{space 2}-.0501141{col 30}{space 2} .0536177{col 41}{space 1}   -0.93{col 50}{space 3}0.350{col 58}{space 4}-.1552033{col 71}{space 3} .0549751
{txt}{space 13}b17 {c |}{col 18}{res}{space 2} .6771939{col 30}{space 2} .8962866{col 41}{space 1}    0.76{col 50}{space 3}0.450{col 58}{space 4}-1.079501{col 71}{space 3} 2.433889
{txt}{space 13}b18 {c |}{col 18}{res}{space 2} .0230801{col 30}{space 2} .0537281{col 41}{space 1}    0.43{col 50}{space 3}0.668{col 58}{space 4}-.0822254{col 71}{space 3} .1283856
{txt}{space 13}b19 {c |}{col 18}{res}{space 2} .1689537{col 30}{space 2} .8962583{col 41}{space 1}    0.19{col 50}{space 3}0.850{col 58}{space 4}-1.587686{col 71}{space 3} 1.925593
{txt}{space 13}b20 {c |}{col 18}{res}{space 2} .0745632{col 30}{space 2} .0529983{col 41}{space 1}    1.41{col 50}{space 3}0.159{col 58}{space 4}-.0293118{col 71}{space 3} .1784382
{txt}{space 13}b21 {c |}{col 18}{res}{space 2} .9299257{col 30}{space 2} .8962204{col 41}{space 1}    1.04{col 50}{space 3}0.299{col 58}{space 4}-.8266395{col 71}{space 3} 2.686491
{txt}{space 13}b22 {c |}{col 18}{res}{space 2}-.1102345{col 30}{space 2} .0521185{col 41}{space 1}   -2.12{col 50}{space 3}0.034{col 58}{space 4}-.2123853{col 71}{space 3}-.0080837
{txt}{space 13}b23 {c |}{col 18}{res}{space 2}-.1985915{col 30}{space 2} .0173075{col 41}{space 1}  -11.47{col 50}{space 3}0.000{col 58}{space 4}-.2325138{col 71}{space 3}-.1646693
{txt}{space 13}b24 {c |}{col 18}{res}{space 2}-.1198815{col 30}{space 2}  .051584{col 41}{space 1}   -2.32{col 50}{space 3}0.020{col 58}{space 4}-.2209845{col 71}{space 3}-.0187785
{txt}{space 13}b25 {c |}{col 18}{res}{space 2} 1.706131{col 30}{space 2} .8962554{col 41}{space 1}    1.90{col 50}{space 3}0.057{col 58}{space 4}-.0505033{col 71}{space 3} 3.462764
{txt}{space 13}b26 {c |}{col 18}{res}{space 2} .2318084{col 30}{space 2}     .053{col 41}{space 1}    4.37{col 50}{space 3}0.000{col 58}{space 4}   .12793{col 71}{space 3} .3356868
{txt}{space 13}b27 {c |}{col 18}{res}{space 2}-.1326682{col 30}{space 2} .9129766{col 41}{space 1}   -0.15{col 50}{space 3}0.884{col 58}{space 4}-1.922075{col 71}{space 3} 1.656739
{txt}{space 13}b28 {c |}{col 18}{res}{space 2} .0484135{col 30}{space 2} .0631259{col 41}{space 1}    0.77{col 50}{space 3}0.443{col 58}{space 4}-.0753114{col 71}{space 3} .1721383
{txt}{space 13}b29 {c |}{col 18}{res}{space 2} .0532206{col 30}{space 2} .0196319{col 41}{space 1}    2.71{col 50}{space 3}0.007{col 58}{space 4} .0147427{col 71}{space 3} .0916985
{txt}{space 13}b30 {c |}{col 18}{res}{space 2} .0385576{col 30}{space 2} .0639748{col 41}{space 1}    0.60{col 50}{space 3}0.547{col 58}{space 4}-.0868312{col 71}{space 3} .1639464
{txt}{space 13}b31 {c |}{col 18}{res}{space 2} .0144152{col 30}{space 2} .0195342{col 41}{space 1}    0.74{col 50}{space 3}0.461{col 58}{space 4}-.0238713{col 71}{space 3} .0527016
{txt}{space 13}b32 {c |}{col 18}{res}{space 2} .0156247{col 30}{space 2} .0683246{col 41}{space 1}    0.23{col 50}{space 3}0.819{col 58}{space 4}-.1182895{col 71}{space 3} .1495389
{txt}{space 13}b33 {c |}{col 18}{res}{space 2}-.2679577{col 30}{space 2} 1.074422{col 41}{space 1}   -0.25{col 50}{space 3}0.803{col 58}{space 4}-2.373793{col 71}{space 3} 1.837878
{txt}{space 13}b34 {c |}{col 18}{res}{space 2} .1429782{col 30}{space 2} .0678941{col 41}{space 1}    2.11{col 50}{space 3}0.035{col 58}{space 4} .0099079{col 71}{space 3} .2760485
{txt}{space 13}b35 {c |}{col 18}{res}{space 2} .5689583{col 30}{space 2} 1.074316{col 41}{space 1}    0.53{col 50}{space 3}0.596{col 58}{space 4}-1.536668{col 71}{space 3} 2.674585
{txt}{space 13}b36 {c |}{col 18}{res}{space 2}-.0809539{col 30}{space 2} .0642884{col 41}{space 1}   -1.26{col 50}{space 3}0.208{col 58}{space 4}-.2069572{col 71}{space 3} .0450495
{txt}{space 13}b37 {c |}{col 18}{res}{space 2}  .696209{col 30}{space 2} .9126709{col 41}{space 1}    0.76{col 50}{space 3}0.446{col 58}{space 4}-1.092599{col 71}{space 3} 2.485017
{txt}{space 13}b38 {c |}{col 18}{res}{space 2} .1453602{col 30}{space 2} .0625207{col 41}{space 1}    2.32{col 50}{space 3}0.020{col 58}{space 4} .0228214{col 71}{space 3} .2678989
{txt}{space 13}b39 {c |}{col 18}{res}{space 2} 1.168229{col 30}{space 2} .9126258{col 41}{space 1}    1.28{col 50}{space 3}0.201{col 58}{space 4}-.6204906{col 71}{space 3} 2.956948
{txt}{space 13}b40 {c |}{col 18}{res}{space 2}-.0799218{col 30}{space 2} .0593753{col 41}{space 1}   -1.35{col 50}{space 3}0.178{col 58}{space 4}-.1962955{col 71}{space 3} .0364519
{txt}{space 13}b41 {c |}{col 18}{res}{space 2} .7327011{col 30}{space 2} .8963387{col 41}{space 1}    0.82{col 50}{space 3}0.414{col 58}{space 4}-1.024096{col 71}{space 3} 2.489498
{txt}{space 13}b42 {c |}{col 18}{res}{space 2} .1391479{col 30}{space 2} .0606088{col 41}{space 1}    2.30{col 50}{space 3}0.022{col 58}{space 4} .0203565{col 71}{space 3} .2579393
{txt}{space 13}b43 {c |}{col 18}{res}{space 2} .0882324{col 30}{space 2}  .896309{col 41}{space 1}    0.10{col 50}{space 3}0.922{col 58}{space 4}-1.668506{col 71}{space 3} 1.844971
{txt}{space 13}b44 {c |}{col 18}{res}{space 2}-.0271183{col 30}{space 2} .0596133{col 41}{space 1}   -0.45{col 50}{space 3}0.649{col 58}{space 4}-.1439586{col 71}{space 3} .0897219
{txt}{space 13}b45 {c |}{col 18}{res}{space 2} 1.012439{col 30}{space 2} .8962744{col 41}{space 1}    1.13{col 50}{space 3}0.259{col 58}{space 4}-.7442325{col 71}{space 3}  2.76911
{txt}{space 13}b46 {c |}{col 18}{res}{space 2}-.0267196{col 30}{space 2} .0578396{col 41}{space 1}   -0.46{col 50}{space 3}0.644{col 58}{space 4}-.1400836{col 71}{space 3} .0866443
{txt}{space 13}b47 {c |}{col 18}{res}{space 2}-.0940915{col 30}{space 2} .0184391{col 41}{space 1}   -5.10{col 50}{space 3}0.000{col 58}{space 4}-.1302315{col 71}{space 3}-.0579515
{txt}{space 13}b48 {c |}{col 18}{res}{space 2}-.0396105{col 30}{space 2} .0555585{col 41}{space 1}   -0.71{col 50}{space 3}0.476{col 58}{space 4}-.1485035{col 71}{space 3} .0692825
{txt}{space 13}b49 {c |}{col 18}{res}{space 2} 1.805615{col 30}{space 2} .8960927{col 41}{space 1}    2.01{col 50}{space 3}0.044{col 58}{space 4} .0492999{col 71}{space 3}  3.56193
{txt}{space 13}b50 {c |}{col 18}{res}{space 2}  .292405{col 30}{space 2} .0464692{col 41}{space 1}    6.29{col 50}{space 3}0.000{col 58}{space 4} .2013267{col 71}{space 3} .3834833
{txt}{space 13}b51 {c |}{col 18}{res}{space 2}-.3697568{col 30}{space 2} .9128041{col 41}{space 1}   -0.41{col 50}{space 3}0.685{col 58}{space 4}-2.158826{col 71}{space 3} 1.419312
{txt}{space 13}b52 {c |}{col 18}{res}{space 2}-.2324701{col 30}{space 2}  .054167{col 41}{space 1}   -4.29{col 50}{space 3}0.000{col 58}{space 4}-.3386358{col 71}{space 3}-.1263044
{txt}{space 13}b53 {c |}{col 18}{res}{space 2}-.0202689{col 30}{space 2} .0173667{col 41}{space 1}   -1.17{col 50}{space 3}0.243{col 58}{space 4}-.0543072{col 71}{space 3} .0137694
{txt}{space 13}b54 {c |}{col 18}{res}{space 2} .0417593{col 30}{space 2} .0546008{col 41}{space 1}    0.76{col 50}{space 3}0.444{col 58}{space 4}-.0652566{col 71}{space 3} .1487753
{txt}{space 13}b55 {c |}{col 18}{res}{space 2} .0104378{col 30}{space 2} .0172428{col 41}{space 1}    0.61{col 50}{space 3}0.545{col 58}{space 4}-.0233575{col 71}{space 3} .0442332
{txt}{space 13}b56 {c |}{col 18}{res}{space 2} .0521293{col 30}{space 2} .0534918{col 41}{space 1}    0.97{col 50}{space 3}0.330{col 58}{space 4}-.0527131{col 71}{space 3} .1569716
{txt}{space 13}b57 {c |}{col 18}{res}{space 2}-.2562942{col 30}{space 2} 1.074273{col 41}{space 1}   -0.24{col 50}{space 3}0.811{col 58}{space 4}-2.361837{col 71}{space 3} 1.849248
{txt}{space 13}b58 {c |}{col 18}{res}{space 2} .1343288{col 30}{space 2} .0527362{col 41}{space 1}    2.55{col 50}{space 3}0.011{col 58}{space 4} .0309675{col 71}{space 3} .2376902
{txt}{space 13}b59 {c |}{col 18}{res}{space 2} .5214057{col 30}{space 2}  1.07418{col 41}{space 1}    0.49{col 50}{space 3}0.627{col 58}{space 4}-1.583955{col 71}{space 3} 2.626766
{txt}{space 13}b60 {c |}{col 18}{res}{space 2}-.1983229{col 30}{space 2} .0508457{col 41}{space 1}   -3.90{col 50}{space 3}0.000{col 58}{space 4} -.297979{col 71}{space 3}-.0986668
{txt}{space 13}b61 {c |}{col 18}{res}{space 2}  .732542{col 30}{space 2} .9125183{col 41}{space 1}    0.80{col 50}{space 3}0.422{col 58}{space 4}-1.055967{col 71}{space 3} 2.521051
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{txt}{space 12}b180 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 12}b181 {c |}{col 18}{res}{space 2} .6750364{col 30}{space 2} .9126546{col 41}{space 1}    0.74{col 50}{space 3}0.460{col 58}{space 4}-1.113739{col 71}{space 3} 2.463812
{txt}{space 12}b182 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 12}b183 {c |}{col 18}{res}{space 2} 1.213237{col 30}{space 2} .9126112{col 41}{space 1}    1.33{col 50}{space 3}0.184{col 58}{space 4}-.5754533{col 71}{space 3} 3.001928
{txt}{space 12}b184 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 12}b185 {c |}{col 18}{res}{space 2} .6803452{col 30}{space 2} .8963179{col 41}{space 1}    0.76{col 50}{space 3}0.448{col 58}{space 4}-1.076411{col 71}{space 3} 2.437101
{txt}{space 12}b186 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 12}b187 {c |}{col 18}{res}{space 2} .0364267{col 30}{space 2} .8962943{col 41}{space 1}    0.04{col 50}{space 3}0.968{col 58}{space 4}-1.720283{col 71}{space 3} 1.793137
{txt}{space 12}b188 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 12}b189 {c |}{col 18}{res}{space 2} .9464376{col 30}{space 2} .8962598{col 41}{space 1}    1.06{col 50}{space 3}0.291{col 58}{space 4}-.8102049{col 71}{space 3}  2.70308
{txt}{space 12}b190 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 12}b191 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 12}b192 {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}_cons {c |}{col 18}{res}{space 2} .2893894{col 30}{space 2} .2073256{col 41}{space 1}    1.40{col 50}{space 3}0.163{col 58}{space 4}-.1169625{col 71}{space 3} .6957413
{txt}{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
         sigma_u {c |} {res}  .9154648
         {txt}sigma_e {c |} {res} .70696932
             {txt}rho {c |} {res} .62642009{txt}   (fraction of variance due to u_i)
{hline 17}{c BT}{hline 64}
F test that all u_i=0: F({res}603996{txt}, {res}387276{txt}) = {res}1.27{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}. 
. *Wild bootstrap, country cluster, restricted
.                 boottest        {c -(}1.presub2c{c )-} {c -(}1.presub1c{c )-} {c -(}1.sub1c{c )-} {c -(}1.postsub1c{c )-} {c -(}1.postsub2c{c )-} {c -(}1.postsub3c{c )-} {c -(}1.postsub4c{c )-} {c -(}1.postsub5c{c )-} {c -(}1.postsub6c{c )-} , cluster(country) nograph  reps (999999) weight (webb)
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(country)
{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.presub2c

{txt}{col 41}t(6) = {res}   -0.9753
{col 37}{txt}Prob>|t| = {res}    0.4787

95%{txt} confidence set for null hypothesis expression: [{res}-.7752{txt}, {res}.3687{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.presub1c

{txt}{col 41}t(6) = {res}   -0.5261
{col 37}{txt}Prob>|t| = {res}    0.6335

95%{txt} confidence set for null hypothesis expression: [{res}-.873{txt}, {res}.758{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.sub1c

{txt}{col 41}t(6) = {res}    8.7566
{col 37}{txt}Prob>|t| = {res}    0.0284

95%{txt} confidence set for null hypothesis expression: [{res}.2421{txt}, {res}1.561{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.postsub1c

{txt}{col 41}t(6) = {res}   -8.8513
{col 37}{txt}Prob>|t| = {res}    0.0188

95%{txt} confidence set for null hypothesis expression: [{res}-1.436{txt}, {res}-.3891{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.postsub2c

{txt}{col 41}t(6) = {res}    0.6441
{col 37}{txt}Prob>|t| = {res}    0.5245

95%{txt} confidence set for null hypothesis expression: [{res}-.4056{txt}, {res}.5986{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.postsub3c

{txt}{col 41}t(6) = {res}   -4.8117
{col 37}{txt}Prob>|t| = {res}    0.0490

95%{txt} confidence set for null hypothesis expression: [{res}-.9073{txt}, {res}-.002689{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.postsub4c

{txt}{col 41}t(6) = {res}   11.0805
{col 37}{txt}Prob>|t| = {res}    0.0129

95%{txt} confidence set for null hypothesis expression: [{res}.4792{txt}, {res}1.785{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.postsub5c

{txt}{col 41}t(6) = {res}  -11.2929
{col 37}{txt}Prob>|t| = {res}    0.0207

95%{txt} confidence set for null hypothesis expression: [{res}-1.089{txt}, {res}-.3422{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.postsub6c

{txt}{col 41}t(6) = {res}    1.4240
{col 37}{txt}Prob>|t| = {res}    0.5121

95%{txt} confidence set for null hypothesis expression: [{res}-.3121{txt}, {res}.5452{txt}]
{res}{txt}
{com}. *Wild bootstrap, country cluster, unrestricted
.                 boottest        {c -(}1.presub2c{c )-} {c -(}1.presub1c{c )-} {c -(}1.sub1c{c )-} {c -(}1.postsub1c{c )-} {c -(}1.postsub2c{c )-} {c -(}1.postsub3c{c )-} {c -(}1.postsub4c{c )-} {c -(}1.postsub5c{c )-} {c -(}1.postsub6c{c )-} , cluster(country) nograph  reps (999999) weight (webb)         nonull  
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(country)
{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.presub2c

{txt}{col 41}t(6) = {res}   -0.9753
{col 37}{txt}Prob>|t| = {res}    0.4283

95%{txt} confidence set for null hypothesis expression: [{res}-.2084{txt}, {res}.06353{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.presub1c

{txt}{col 41}t(6) = {res}   -0.5261
{col 37}{txt}Prob>|t| = {res}    0.5762

95%{txt} confidence set for null hypothesis expression: [{res}-.5875{txt}, {res}.4417{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.sub1c

{txt}{col 41}t(6) = {res}    8.7566
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}.6508{txt}, {res}1.187{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.postsub1c

{txt}{col 41}t(6) = {res}   -8.8513
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}-1.086{txt}, {res}-.6218{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.postsub2c

{txt}{col 41}t(6) = {res}    0.6441
{col 37}{txt}Prob>|t| = {res}    0.4718

95%{txt} confidence set for null hypothesis expression: [{res}-.1046{txt}, {res}.2311{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.postsub3c

{txt}{col 41}t(6) = {res}   -4.8117
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}-.7063{txt}, {res}-.1957{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.postsub4c

{txt}{col 41}t(6) = {res}   11.0805
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}.8544{txt}, {res}1.203{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.postsub5c

{txt}{col 41}t(6) = {res}  -11.2929
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}-.7851{txt}, {res}-.5514{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999999 replications, Wald test, clustering by {com}country{txt}, bootstrap clustering by {com}country{txt}, Webb weights:
  {res}1.postsub6c

{txt}{col 41}t(6) = {res}    1.4240
{col 37}{txt}Prob>|t| = {res}    0.1990

95%{txt} confidence set for null hypothesis expression: [{res}-.05197{txt}, {res}.2701{txt}]
{res}{txt}
{com}. *Wild bootstrap, country-date cluster, restricted
.                 boottest        {c -(}1.presub2c{c )-} {c -(}1.presub1c{c )-} {c -(}1.sub1c{c )-} {c -(}1.postsub1c{c )-} {c -(}1.postsub2c{c )-} {c -(}1.postsub3c{c )-} {c -(}1.postsub4c{c )-} {c -(}1.postsub5c{c )-} {c -(}1.postsub6c{c )-} , cluster(cd)    nograph  noci
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(cd)

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.presub2c

{txt}{col 38}t(1043) = {res}   -0.7405
{col 37}{txt}Prob>|t| = {res}    0.4935

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.presub1c

{txt}{col 38}t(1043) = {res}   -0.5980
{col 37}{txt}Prob>|t| = {res}    0.5506

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.sub1c

{txt}{col 38}t(1043) = {res}   10.1627
{col 37}{txt}Prob>|t| = {res}    0.0000

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.postsub1c

{txt}{col 38}t(1043) = {res}   -8.4005
{col 37}{txt}Prob>|t| = {res}    0.0040

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.postsub2c

{txt}{col 38}t(1043) = {res}    0.7014
{col 37}{txt}Prob>|t| = {res}    0.4655

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.postsub3c

{txt}{col 38}t(1043) = {res}   -5.0425
{col 37}{txt}Prob>|t| = {res}    0.0080

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.postsub4c

{txt}{col 38}t(1043) = {res}   10.9258
{col 37}{txt}Prob>|t| = {res}    0.0010

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.postsub5c

{txt}{col 38}t(1043) = {res}   -9.5159
{col 37}{txt}Prob>|t| = {res}    0.0040

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.postsub6c

{txt}{col 38}t(1043) = {res}    1.3466
{col 37}{txt}Prob>|t| = {res}    0.3684
{txt}
{com}. *Wild bootstrap, country-date cluster, unrestricted
.                 boottest        {c -(}1.presub2c{c )-} {c -(}1.presub1c{c )-} {c -(}1.sub1c{c )-} {c -(}1.postsub1c{c )-} {c -(}1.postsub2c{c )-} {c -(}1.postsub3c{c )-} {c -(}1.postsub4c{c )-} {c -(}1.postsub5c{c )-} {c -(}1.postsub6c{c )-} , cluster(cd)    nograph                                                                        nonull  
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(cd)
{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.presub2c

{txt}{col 38}t(1043) = {res}   -0.7405
{col 37}{txt}Prob>|t| = {res}    0.3554

95%{txt} confidence set for null hypothesis expression: [{res}-.2465{txt}, {res}.1017{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.presub1c

{txt}{col 38}t(1043) = {res}   -0.5980
{col 37}{txt}Prob>|t| = {res}    0.5285

95%{txt} confidence set for null hypothesis expression: [{res}-.3414{txt}, {res}.1953{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.sub1c

{txt}{col 38}t(1043) = {res}   10.1627
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}.7452{txt}, {res}1.092{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.postsub1c

{txt}{col 38}t(1043) = {res}   -8.4005
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}-1.051{txt}, {res}-.6573{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.postsub2c

{txt}{col 38}t(1043) = {res}    0.7014
{col 37}{txt}Prob>|t| = {res}    0.4104

95%{txt} confidence set for null hypothesis expression: [{res}-.1151{txt}, {res}.2416{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.postsub3c

{txt}{col 38}t(1043) = {res}   -5.0425
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}-.6315{txt}, {res}-.2705{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.postsub4c

{txt}{col 38}t(1043) = {res}   10.9258
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}.8464{txt}, {res}1.211{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.postsub5c

{txt}{col 38}t(1043) = {res}   -9.5159
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}-.7801{txt}, {res}-.5565{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}cd{txt}, bootstrap clustering by {com}cd{txt}, Rademacher weights:
  {res}1.postsub6c

{txt}{col 38}t(1043) = {res}    1.3466
{col 37}{txt}Prob>|t| = {res}    0.2022

95%{txt} confidence set for null hypothesis expression: [{res}-.05583{txt}, {res}.2741{txt}]
{res}{txt}
{com}. *Subcluster bootstrap by product, restricted
.                 boottest        {c -(}1.presub2c{c )-} {c -(}1.presub1c{c )-} {c -(}1.sub1c{c )-} {c -(}1.postsub1c{c )-} {c -(}1.postsub2c{c )-} {c -(}1.postsub3c{c )-} {c -(}1.postsub4c{c )-} {c -(}1.postsub5c{c )-} {c -(}1.postsub6c{c )-} , cluster(id)    nograph
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(id)
{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.presub2c

{txt}{col 37}t(23526) = {res}   -0.4001
{col 37}{txt}Prob>|t| = {res}    0.5355

95%{txt} confidence set for null hypothesis expression: [{res}-.3045{txt}, {res}.1507{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.presub1c

{txt}{col 37}t(23526) = {res}   -0.4210
{col 37}{txt}Prob>|t| = {res}    0.5195

95%{txt} confidence set for null hypothesis expression: [{res}-.2884{txt}, {res}.1406{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.sub1c

{txt}{col 37}t(23526) = {res}    6.2656
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}.7343{txt}, {res}1.1{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.postsub1c

{txt}{col 37}t(23526) = {res}   -5.3982
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}-1.061{txt}, {res}-.6547{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.postsub2c

{txt}{col 37}t(23526) = {res}    0.3803
{col 37}{txt}Prob>|t| = {res}    0.5285

95%{txt} confidence set for null hypothesis expression: [{res}-.1292{txt}, {res}.2584{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.postsub3c

{txt}{col 37}t(23526) = {res}   -2.6655
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}-.6573{txt}, {res}-.245{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.postsub4c

{txt}{col 37}t(23526) = {res}    5.9109
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}.8088{txt}, {res}1.242{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.postsub5c

{txt}{col 37}t(23526) = {res}   -3.8735
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}-.8745{txt}, {res}-.4542{txt}]
{res}{txt}..........................

Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.postsub6c

{txt}{col 37}t(23526) = {res}    0.6360
{col 37}{txt}Prob>|t| = {res}    0.3323

95%{txt} confidence set for null hypothesis expression: [{res}-.1153{txt}, {res}.3322{txt}]
{res}{txt}
{com}. *Subcluster bootstrap by product, unrestricted
.                 boottest        {c -(}1.presub2c{c )-} {c -(}1.presub1c{c )-} {c -(}1.sub1c{c )-} {c -(}1.postsub1c{c )-} {c -(}1.postsub2c{c )-} {c -(}1.postsub3c{c )-} {c -(}1.postsub4c{c )-} {c -(}1.postsub5c{c )-} {c -(}1.postsub6c{c )-} , cluster(id)    nograph                                                                        nonull
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(id)
{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.presub2c

{txt}{col 37}t(23526) = {res}   -0.4001
{col 37}{txt}Prob>|t| = {res}    0.5245

95%{txt} confidence set for null hypothesis expression: [{res}-.2953{txt}, {res}.1503{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.presub1c

{txt}{col 37}t(23526) = {res}   -0.4210
{col 37}{txt}Prob>|t| = {res}    0.4865

95%{txt} confidence set for null hypothesis expression: [{res}-.282{txt}, {res}.1362{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.sub1c

{txt}{col 37}t(23526) = {res}    6.2656
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}.7449{txt}, {res}1.093{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.postsub1c

{txt}{col 37}t(23526) = {res}   -5.3982
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}-1.048{txt}, {res}-.6595{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.postsub2c

{txt}{col 37}t(23526) = {res}    0.3803
{col 37}{txt}Prob>|t| = {res}    0.5235

95%{txt} confidence set for null hypothesis expression: [{res}-.1436{txt}, {res}.2701{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.postsub3c

{txt}{col 37}t(23526) = {res}   -2.6655
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}-.6548{txt}, {res}-.247{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.postsub4c

{txt}{col 37}t(23526) = {res}    5.9109
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}.8218{txt}, {res}1.236{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.postsub5c

{txt}{col 37}t(23526) = {res}   -3.8735
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}-.8808{txt}, {res}-.4557{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id{txt}, bootstrap clustering by {com}id{txt}, Rademacher weights:
  {res}1.postsub6c

{txt}{col 37}t(23526) = {res}    0.6360
{col 37}{txt}Prob>|t| = {res}    0.3033

95%{txt} confidence set for null hypothesis expression: [{res}-.1011{txt}, {res}.3189{txt}]
{res}{txt}
{com}. *Subcluster bootstrap by product-country, restricted
.                 boottest        {c -(}1.presub2c{c )-} {c -(}1.presub1c{c )-} {c -(}1.sub1c{c )-} {c -(}1.postsub1c{c )-} {c -(}1.postsub2c{c )-} {c -(}1.postsub3c{c )-} {c -(}1.postsub4c{c )-} {c -(}1.postsub5c{c )-} {c -(}1.postsub6c{c )-} , cluster(id1)   nograph  noci
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(id1)

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.presub2c

{txt}{col 37}t(50874) = {res}   -0.4813
{col 37}{txt}Prob>|t| = {res}    0.5395

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.presub1c

{txt}{col 37}t(50874) = {res}   -0.5338
{col 37}{txt}Prob>|t| = {res}    0.5155

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.sub1c

{txt}{col 37}t(50874) = {res}    7.5666
{col 37}{txt}Prob>|t| = {res}    0.0000

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.postsub1c

{txt}{col 37}t(50874) = {res}   -6.6077
{col 37}{txt}Prob>|t| = {res}    0.0000

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.postsub2c

{txt}{col 37}t(50874) = {res}    0.4768
{col 37}{txt}Prob>|t| = {res}    0.5195

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.postsub3c

{txt}{col 37}t(50874) = {res}   -3.4119
{col 37}{txt}Prob>|t| = {res}    0.0000

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.postsub4c

{txt}{col 37}t(50874) = {res}    7.4989
{col 37}{txt}Prob>|t| = {res}    0.0000

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.postsub5c

{txt}{col 37}t(50874) = {res}   -5.0369
{col 37}{txt}Prob>|t| = {res}    0.0000

{txt}Wild bootstrap, null imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.postsub6c

{txt}{col 37}t(50874) = {res}    0.8237
{col 37}{txt}Prob>|t| = {res}    0.2973
{txt}
{com}. *Subcluster bootstrap by product-country, unrestricted
.                 boottest        {c -(}1.presub2c{c )-} {c -(}1.presub1c{c )-} {c -(}1.sub1c{c )-} {c -(}1.postsub1c{c )-} {c -(}1.postsub2c{c )-} {c -(}1.postsub3c{c )-} {c -(}1.postsub4c{c )-} {c -(}1.postsub5c{c )-} {c -(}1.postsub6c{c )-} , cluster(id1)   nograph                                                                        nonull          
{res}
{txt}Overriding estimator's cluster/robust settings with {res}cluster(id1)
{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.presub2c

{txt}{col 37}t(50874) = {res}   -0.4813
{col 37}{txt}Prob>|t| = {res}    0.5345

95%{txt} confidence set for null hypothesis expression: [{res}-.2978{txt}, {res}.1529{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.presub1c

{txt}{col 37}t(50874) = {res}   -0.5338
{col 37}{txt}Prob>|t| = {res}    0.4745

95%{txt} confidence set for null hypothesis expression: [{res}-.2749{txt}, {res}.1289{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.sub1c

{txt}{col 37}t(50874) = {res}    7.5666
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}.7404{txt}, {res}1.097{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.postsub1c

{txt}{col 37}t(50874) = {res}   -6.6077
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}-1.052{txt}, {res}-.6561{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.postsub2c

{txt}{col 37}t(50874) = {res}    0.4768
{col 37}{txt}Prob>|t| = {res}    0.5355

95%{txt} confidence set for null hypothesis expression: [{res}-.1394{txt}, {res}.2658{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.postsub3c

{txt}{col 37}t(50874) = {res}   -3.4119
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}-.6628{txt}, {res}-.2391{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.postsub4c

{txt}{col 37}t(50874) = {res}    7.4989
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}.8105{txt}, {res}1.247{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.postsub5c

{txt}{col 37}t(50874) = {res}   -5.0369
{col 37}{txt}Prob>|t| = {res}    0.0000

95%{txt} confidence set for null hypothesis expression: [{res}-.8666{txt}, {res}-.4697{txt}]
{res}{txt}..........................

Wild bootstrap, null not imposed, 999 replications, Wald test, clustering by {com}id1{txt}, bootstrap clustering by {com}id1{txt}, Rademacher weights:
  {res}1.postsub6c

{txt}{col 37}t(50874) = {res}    0.8237
{col 37}{txt}Prob>|t| = {res}    0.2773

95%{txt} confidence set for null hypothesis expression: [{res}-.09378{txt}, {res}.3119{txt}]
{res}{txt}
{com}.                 
. restore         
{txt}
{com}.                 
.                 
. log close
      {txt}name:  {res}<unnamed>
       {txt}log:  {res}R:\WSV2\TBu_BMa\Subsidies Project\Results\Cluster_level.smcl
  {txt}log type:  {res}smcl
 {txt}closed on:  {res}12 Feb 2021, 14:16:49
{txt}{.-}
{smcl}
{txt}{sf}{ul off}